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USDJPY To Session Lows As Nikkei Article Suggests BOJ Will Discuss Weakening Yen

JPY
  • Monitoring a dip lower for USDJPY in recent trade to fresh session lows below 154.60. Looks to be on the back of the following Nikkei headlines on Reuters:
    • Bank of Japan to discuss impact of yen's rapid slide at this week's policy meeting
    • Expected to focus on effects of rapidly weakening yen on inflation at their two-day meeting starting Thursday
    • BOJ is closely watching core inflation as it weighs the timing of additional hikes
    • Rather than rushing further tweaks, BOJ aims to carefully monitor moves by smaller businesses to raise pay and pass along increased costs
    • "We want to confirm that the cycle between wage and price growth is strengthening"
    • BOJ will also discuss whether to upgrade its 2.4% inflation forecast for fiscal 2024 made in January
  • Article here: https://asia.nikkei.com/Economy/Bank-of-Japan/BOJ-...
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