USD/JPY was offered yesterday amid.......>

DOLLAR-YEN: USD/JPY was offered yesterday amid broader USD sales ahead of the

Fed's monetary policy decision. The pair fluctuated somewhat as Jay Powell & Co.

promised to keep boosting asset purchases and forecast that interest rates will

stay near zero at least through the end of 2022.

- TBS reported that Tokyo considers lifting an alert and relaxing some business

restrictions on Thursday.

- Elsewhere, Yomiuri reported that Japan mulls allowing 250 business travellers

per day. The plan would cover visitors from 4 countries.

- BBG sources suggested that the BoJ will not make any major moves at next

week's policy meeting and will take stock of he impact of steps taken so far.

- Q2 BSI Large All Industry Index fell more than exp., to -47.6 from -10.1.

- The rate remains heavy, last sits -10 pips at Y107.01. A fall below Y106.74,

which limited losses on May 13, would open May 11 low of Y106.40. Bulls look to

take out the 50-DMA at Y107.65 before targeting Jun 9 peak at Y108.54.

- Final Japanese industrial output data is due Friday.