The Bank of Japan (BOJ) is expected to raise its policy interest rate by 0.25% at today’s meeting, but this has already been priced in by the market, so it is unlikely to cause more yen buying. BOJ Governor Ueda is expected to avoid comments that could influence the market.
If wages continue to rise and there is no major trouble, such as from the Trump administration, there could be more rate hikes in the future, which may lead to more yen buying.
On the other hand, President Trump’s request for the U.S. Federal Reserve to lower interest rates may limit the dollar’s rise against the yen in the short term.
USD/JPY Expected Range: 156.60–155.00
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