Dollar Rose Above 123 Yen

EST Exp Prev
00:00 Japan Bank of Japan Monetary Policy Decision 0.5% 0.5%
01:00 Japan BoJ June Monthly Report n/a n/a
01:00 Japan April Leading Indicator n/f 20.0
08:30 US Q1 Current Account Deficit $201.0 bln $195.79 bln
08:30 US May Real Earnings 0.1% -0.5%
08:30 US June NY Fed Manufacturing Survey 10.8 8.03
08:30 US May CPI y/y 2.6% 2.6%
08:30 US May CPI-x y/y 2.3% 2.3%
08:30 US May CPI-x m/m 0.2% 0.2%
08:30 US May CPI m/m 0.6% 0.4%
09:00 US April TICS n/f $67.7 bln
09:15 US May Capacity Utilization 81.6% 81.6%
09:15 US May Industrial Production m/m 0.2% 0.7%
10:00 US June University of Michigan Survey prelim 88.0 88.3

The dollar rose above a technical resistance at 123 versus the yen on Thursday. After breaking the key level at 122.20 yesterday, the pair initiated an upward trend with next target at 123.50.

The Bank of Japan is widely expected to leave interest rates unchanged at 0.5% on it policy meeting tonight. US interest rate futures indicated that traders have already priced out a chance of a Fed rate cut within the year. The US bond yield premium over Japan equivalents widened further, pushing the dollar trade higher versus the yen.