The yen experienced a decline against major currencies on Thursday, driven by expectations surrounding the Bank of Japan’s (BOJ) upcoming policy meeting. Market sentiment suggests that the BOJ is unlikely to implement any immediate changes to its monetary policy, which has contributed to the yen’s weakness.

Analysts indicate that investors are primarily focused on any forward guidance the BOJ might provide concerning potential future adjustments to its monetary policy. With inflation remaining subdued and economic growth facing uncertainties, the central bank is expected to maintain its current stance.

The yen’s performance was particularly notable against the US dollar, where it edged lower. Similar trends were observed against the euro and the British pound.

Market participants will be scrutinizing the BOJ’s meeting for any hints about its assessment of the current economic climate and its potential implications for future policy decisions. Any signals suggesting a possible shift in the BOJ’s approach could trigger significant movements in the currency markets.