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JPY: USD/JPY Rallies as Ishiba Sees No Environment for Additional Rate Hike

JPY
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  • USD/JPY rallies to a new daily high as Japan's PM Ishiba states that Japan is "not in the environment for an additional rate hike". Ishiba also states he confirmed with BoJ's Ueda that he is to make thorough communication with the market.  
  • The headlines help USD/JPY add to daily gains and touch a new high at 144.67. Ishiba's comments come after this morning's meeting with Ueda, so market clearly sees the PM as having relayed this opinion to the BoJ governor today.
  • EUR/JPY's new daily high of 160.15 narrows the gap with the 50-dma resistance at 160.61 and yesterday's best levels of 160.91. USD/JPY also nears the more sizeable options interest for the Wednesday cut: just over $1bln expires at Y145.00-25 today.
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  • USD/JPY rallies to a new daily high as Japan's PM Ishiba states that Japan is "not in the environment for an additional rate hike". Ishiba also states he confirmed with BoJ's Ueda that he is to make thorough communication with the market.  
  • The headlines help USD/JPY add to daily gains and touch a new high at 144.67. Ishiba's comments come after this morning's meeting with Ueda, so market clearly sees the PM as having relayed this opinion to the BoJ governor today.
  • EUR/JPY's new daily high of 160.15 narrows the gap with the 50-dma resistance at 160.61 and yesterday's best levels of 160.91. USD/JPY also nears the more sizeable options interest for the Wednesday cut: just over $1bln expires at Y145.00-25 today.