Dollar/yen ticks higher in narrow trade. The upside is capped by expectations of early policy adjustments by the Bank of Japan.

【3/13Market Overview

In Tokyo time, amid some reports that Toyota would give a full-year response for a change in labor negotiations, expectations for a revision to the Bank of Japan’s monetary policy rose, and the USD/JPY fell to as low as4147.23 yen円まで下落。しかし、その後は日経平均が下げ幅を縮小させたことなどを受け、ドル円は円前後まで買い戻された。In European time, following Prime Minister Kishida's remarks in the House of Councillors Budget Committee that “the Japanese economy has not yet achieved deflation exit,” USD/JPY rose to as high as148.04円までrise.In NY time, with expectations for earlier monetary policy adjustment by the BOJ rising, USD/JPY fell to147.60147.45円まで.