In Christmas mode, USD/JPY activity is subdued.

【12/25Market Overview

During Tokyo time, with major markets outside Japan and China closed, activity was subdued, and when buying occurred the USD/JPY rose to155.95yen. Afterwards, supported by a rise in Japanese medium-term interest rates, it fell to155.62yen.

Also, although Bank of Japan Governor Ueda said, “Our central outlook is becoming more likely to be realized,” and “Policy rates will be raised in response to improvements in economic and price conditions,” the content was not new, so market reaction was limited.

※12/25 FX trading ended around at approximately local time15:00. Trading in Europe and the U.S. was closed.

【12/26Market View