With expectations of a Bank of Japan rate hike, the USD/JPY fell to 152.11 yen, a fresh low not seen since December 12 of last year.
【2/5Market Overview
Tokyo time,12Monthly Labor Survey and real wages exceeded expectations, boosting expectations of a BOJ rate hike. Also, following Akazawa's Economic Revival Minister's remark that “we are currently in a state of inflation and there is no discrepancy with Governor Ueda,” demand for yen rose, and USD/JPY fell to1/27low153.71yen, with stop-loss selling pushing it down to the moment153.08yen, the lowest since last year’s12/13low. In European time, USD/JPY fell below153yen, dropping to152.54yen. In New York time,NYtime,1月ADPemployment data came in at18.3ten thousand, higher than the15.0ten thousand forecast, lifting USD/JPY to153.20yen. However, if1月米ISMnon-manufacturing index fell short of expectations of52.8to54.3, USD/JPY slid to152.11yen, renewing the low since last year’s12/12low.
【2/6Market View