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USD/JPY Holding Above 148.00 Post Unchanged BoJ

JPY

USD/JPY has spiked higher post the unchanged BoJ outcome. We were last near 148.05/10, around 0.30% weaker versus NY closing levels from Thursday in yen terms. Highs for the session came at 148.17. This is below early Thursday session highs around 148.46. Recall earlier we had fresh verbal jawboning on FX from Finance Minister Suzuki.

  • The BOJ delivered few surprises in terms of today's announcement. It kept all policy parameters unchanged and expects CPI momentum in y/y terms to moderate further. It reiterated high uncertainties over the economic and price outlook.

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