Tokyo stocks drop ahead of BoJ meeting
Tokyo shares fell on Wednesday despite a broad rally in Asia ahead of key announcements on monetary policy and stimulus from the Bank of Japan and the European Central Bank. The dollar lost ground against the euro and the yen on the uncertainty, but was buffeted by expectations the US Federal Reserve will raise interest rates this year as the American economy continues to strengthen. Shares in Tokyo's benchmark Nikkei index fell 0.51 percent in morning trade, while Seoul stocks dropped 0.39 percent. "Although we are not expecting anything out of the ordinary from the BoJ today, it will be interesting to see if energy prices are raining on their inflation goals," Evan Lucas, a strategist at IG brokers in Melbourne, wrote in a research note, according to Bloomberg News.
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