The yen gained on Thursday on speculation that the Bank of Japan won't deliver radical stimulus this week, while the dollar took a step back after the U.S. Federal Reserve stopped short of signalling a near-term rate rise.
The dollar skidded 0.5 percent to 104.92 yen, while the euro was 0.3 percent lower at 116.19 yen ahead of the BOJ's two-day policy meeting that begins on Thursday.
"It seems the market is preparing for disappointment already" on the scope of BOJ moves, said Bart Wakabayashi, head of Hong Kong FX sales at State Street Global Markets in Tokyo.
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The dollar skidded 0.5 percent to 104.92 yen, while the euro was 0.3 percent lower at 116.19 yen ahead of the BOJ's two-day policy meeting that begins on Thursday.
"It seems the market is preparing for disappointment already" on the scope of BOJ moves, said Bart Wakabayashi, head of Hong Kong FX sales at State Street Global Markets in Tokyo.
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