With the Federal Reserve two-day policy meeting and the pending decision of the Bank of Japan in focus on Tuesday, both the US and Japanese currencies have adjusted to the situation. As it stands, the yen is broadly stronger than the dollar.

The Fed’s much-awaited meeting kicks off today. While the vast consensus is for the US central bank to keep rates steady at the conclusion of its meeting on Wednesday, there are market players anticipating it to shed more light that it is prepared to hike rate by year-end.