Yen is surging ahead of the Bank of Japan meeting on Friday

<p>The Bank of Japan is widely expected to do nothing to change or tweak monetary policy tomorrow.</p><p>But, that's not a unanimous view:</p><ul><li><a href="https://www.forexlive.com/centralbank/bank-of-japan-meet-friday-bnp-is-expecting-the-boj-to-widen-ycc-to-100-bps-from-50-20230727/" target="_blank" rel="follow" data-article-link="true">Bank of Japan meet Friday. BNP is expecting the BOJ to widen YCC to +/- 100 bps (from 50)</a></li></ul><p>USD/JPY is dropping fast. Having said that, the USD is losing ground more widely, all major FX is higher against the dollar in the Asian morning here.</p><p>The background to today's session here was the Federal Open Market Committee (FOMC) rate hike overnight:</p><ul><li><a href="https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-26-jul-fed-raises-rates-by-25-bps-to-55-22-year-high-20230726/" target="_blank" rel="follow" data-article-link="true">Forexlive Americas FX news wrap 26 Jul: Fed raises rates by 25 bps to 5.5%. 22-year high.</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.