CAD/JPY holds steady as Bank of Canada holds rates steady - Traders Union

Canadian Dollar vs Yen (CAD/JPY) is trading at ¥110.69, slipping modestly on the day with a quiet move lower. The pair sits below its key moving averages, suggesting a period of downside pressure. The Bank of Canada kept its key policy rate unchanged at 2.25% at its September meeting, according to Fxstreet . This decision signals a steady monetary stance even as global counterparts weigh further tightening, narrowing the yield differential between the Canadian Dollar and the Yen. The move has reduced the relative attractiveness of the Canadian Dollar, helping to explain recent softness in the CAD/JPY cross. On the technical front, CAD/JPY is trading below its MA-20 and MA-50 on the hourly chart, and remains well under the MA-200 on the daily chart.