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USD/JPY To Fresh Highs, As Policy Review May Take A Year

JPY

USD/JPY has rallied to fresh highs, touching 134.28, which was also above Thursday session highs. We are slightly lower now, last 134.15/20. The market continues to digest the earlier Nikkei headlines re the potential for changes at today's BoJ policy meeting. The Nikkei report also reportedly states the review of the BoJ's long term monetary stimulus could take up to a year. This may dampen some expectations of any near term policy shift, although nothing major was expected at today's meeting.

  • Equally, any tweaks to policy guidance around removing the reference to further easing should work to support the yen.
  • There is no fixed time for the release, but it typically comes any time after the start of the equity lunch break in Tokyo (11:30 Tokyo/03:30 London), which is in around 30mins.
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