The EUR/USD has been subdued by the 1.3330 resistance and underpinned by the 1.3300 psychological level during Monday, in a never ending range trading. Not only is the US out of the market, as it celebrates Martin Luther King Day, but also is the JPY the main focus in the FX market.
Investors are positioning themselves ahead of the overhyped BoJ announcement. Much verbal intervention has been made in recent times and much is expected from policymakers. Consensus points to an increase of JPY 10 trillion in bond purchases, but investors are also looking for a lift in the inflation target, from 1% to 2%.
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