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USD/JPY Reverses Brief Losses on Reuters BoJ Piece

JPY
  • Volatility goes through the JPY headed through the European cash equity open as Reuters publish a story stating that the BoJ are to exit from easy policy next year, but that strategy needs some good fortune. The bulk of the brief move higher in the JPY has been pared after-the-fact.
  • The USD/JPY slip to print 150.18 on the headline is swiftly reversed as the details show "exit strategy will require a bit of good fortune" and that "Ueda will stick to a pattern he established six months in his tenure, which is to move gradually toward an exit while maintaining the dovish rhetoric of his predecessor, the sources say."* Rate back above Y150.50 at typing.
  • The piece writes that the BoJ are to retain dovish rhetoric, even as it moves towards an exit, with many in BOJ see likely timing of an exit around spring next year.
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