USD/JPY was the story overnight - Scotiabank

Analysts at Scotiabank explained that the USD/JPY was the story of the overnight session, with the JPY rising 1.4% on the back of Japan’s Finance Minister.

Key Quotes:

"Japan’s Finance Minister was suggesting that the government had not decided on the scale of additional fiscal stimulus (contrary to reports late yesterday) and that the BoJ should decide on additional monetary policy measures. The comments undermined expectations of BoJ easing Friday (not least because the central bank may want to have some idea of the government’s fiscal plans before deciding if supplementary measures are needed)."

Main eyes are now on the Fed until BoJ: FOMC meeting: yes, it will be hawkish; no, it won't matter