Dollar headed for monthly loss; yen steady ahead of BOJ decision

The US dollar is facing a second consecutive monthly loss, as investors speculate that the Federal Reserve may soon end its significant rate-hiking cycle. Meanwhile, the yen stabilised close to a one-week high on the day of the Bank of Japan’s monetary policy decision. Investors anticipate new governor Kazuo Ueda will retain monetary settings. Moreover, analysts suggest his tone will attract attention as investors listen out for any tone which suggests a tweak in forward guidance.