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Not Much Follow Through Yen Strength On Nikkei BoJ Headlines

JPY

USD/JPY has pulled back on Nikkei headlines that the BoJ will conduct a long term policy review. Headlines also crossed the central bank is considering tweaking its forward guidance but is unlikely to make changes to YCC at today's BoJ meeting. The change to forward guidance relates to changes in terms of the government's stance on the covid classification. Headlines have also cross that changing the expression around further easing could also be considered.

  • The pair got to 133.60/65, but is now back to 133.85/90. Earlier highs were at 134.08.

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