The yen has rebounded some after clocking a 26-day low versus the dollar in early Tokyo trade, which saw USD-JPY ebb back to the low 111s after making a peak at 111.88. EUR-JPY and other yen crosses once again mirrored the price action of the dollar pairing. The rebound in the Japanese currency follows the biggest single-day rally it has seen since Oct-31 2014, according to Bloomberg, and comes ahead of the BoJ policy meeting on Wednesday and Thursday. Markets expect the central bank to increase stimulus, though in what form and by how much are uncertain.
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