The dollar was steady on Wednesday and near its lowest since the start of October after data showed the labour market remained soft, leaving traders on edge about when the next rate cut from the Fed.
While the US added 64,000 jobs in November, surpassing an estimate, the unemployment rate was at 4.6% last month, although the 43-day government shutdown distorted the data.
The yen hovered near a two-week high ahead of the BOJ meeting. With markets broadly expecting a rate hike, the focus will be on the forward guidance and where the policy path is headed in the next year.
Japan's exports in November rose at their fastest rate in nine months this year, growing at 6.1% year on year, data showed. The figure came just after an upward revision of Q3 GDP.
The latest Tankan survey showed corporate sentiment holding up better than expected, with large manufacturers' confidence steady and smaller firms outperforming forecasts.
However, shows of force have escalated a month after the opening of a diplomatic crisis between China and Japan. J-15 fighter jets twice locked their radars onto Japanese aircraft last week.
The dollar was still consolidating its gains against the yen with 50 SMA acting as a robust support. The risk for the pair is tilted towards the upside given the double-bottom pattern.
Asset recap
As of market close on 16 December, among EBC products, Comcast shares led gains amid fresh focus on the company's upcoming Versant Media Group spin-off mechanics.
Pfizer forecast modest 2026 guidance as it looks to longer-term investments in its pipeline to counter waning Covid product sales and declines from older drugs, raising concerns about among shareholders.
US crude oil prices fell nearly 3% on Tuesday to close at the lowest level since early 2021, as a looming surplus and possible peace agreement in Ukraine weigh on the market.
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