The Bank of Japan (BOJ) is set to make a decision later in the day, amid concerns about currency market volatility. The yen was up 0.1% at 159.78, marking its lowest level in two years. This comes as the Federal Reserve holds rates amid accelerating U.S. inflation and rising oil prices. The dollar index also fell by 0.01%, holding near its highest levels of the last four months. The Bank of America is expected to maintain its pledge to raise borrowing costs, but offers few clues on the next rate-hike timing. The Australian dollar also rose by a fraction of a cent due to data for February showing unemployment at 4.3%, and the Reserve Bank of Australia warned of the conflict in the Middle East as a significant risk to the domestic economy.