Yen Steady After BOJ Stands Pat With Policy as Expected
- Citi index suggests funds have cut yen shorts to one-year low
- BOJ expected to leave policy unchanged at Friday’s meeting
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The yen fluctuated in a tight range Friday immediately after the Bank of Japan maintained its super-easy monetary policy as expected.
The currency was little changed around the 146.25 per dollar level, having rallied almost 4% from last week’s three-decade low which triggered more suspected intervention from Japan. A Citigroup Inc. gauge of trader positioning suggested they were taking the threat of further action seriously, with net shorts shrinking to the least in almost a year.