Bank of Japan, after diverging expectations of early rate hikes, USD/JPY rebounds for the first time in six days.
【2/16Market Overview
In Tokyo time, for Japan10-12Month PeriodGDP(Real Gross Domestic Product) preliminary figures undershot expectations, raising speculation of an earlier Bank of Japan rate hike retreat, and the dollar/yen rose to153.25yen. Later, as it was reported that Prime Minister Kishida and BOJ Governor Ueda would meet in the evening Japan time, market participants stayed cautious. In European trading hours, the dollar/yen remained solid in the lower- to mid-153s.153yen range early in the session. After the meeting between Prime Minister Kishida and BOJ Governor Ueda at the Prime Minister’s Official Residence, Governor Ueda told reporters that they had exchanged views on general economic and financial conditions, and that there was nothing specific he could discuss. Market reaction was limited.NYTime, with the U.S. on Presidents’ Day holiday, the dollar/yen rose to153.63yen.
【2/17Market View