US PPI forecast undershoot leads to downside pressure, but USD/JPY rebounds for the first time in four days.

【1/14Market Overview

In Tokyo time, the USD/JPY fell to 157.12 after remarks from Bank of Japan Deputy Governor Shinichi Hatomori that they would discuss at next week's meeting whether to raise rates and would like to judge; noting that determining the timing of policy changes is difficult and also important, etc.,157.12then sharply rebounded to 158.03 and fluctuated.158.03Thereafter it traded around the mid-157s. In European and U.S. time, USD/JPY held firm and rose to as high as157yen in the mid-range with little movement. In U.S. and European time, the dollar index was supported and briefly rose to158.13yen.NYtime,12month U.S.PPI (Wholesales Price Index) came in below expectations,10year Treasury yields fell, and USD/JPY fell to157.39yen. Thereafter, as U.S.10year Treasury yields began to rise, USD/JPY edged higher158.19yen.