In the Tokyo market on the morning of the 13th, USD/JPY briefly strengthened to around ¥158.69 before falling to around ¥158.19. The euro and pound strengthened against the dollar, against a backdrop of a pause in safe-haven dollar buying. Attention is focused on BOJ Governor Ueda's attendance at the Lower House Budget Committee at 1 p.m., with the possibility of hawkish remarks becoming the market's focus.
In the Tokyo foreign exchange market on the morning of the 13th, USD/JPY traded with a bias toward a stronger yen, rising briefly to around ¥158.69 in the early morning before weakening and falling to around ¥158.19. EUR/USD traded around 1.1178, while GBP/USD traded around 1.322.
As safe-haven dollar buying took a breather, the euro and pound remained firm against the dollar, and yen buying was broadly dominant across the cross-yen pairs.
BOJ Governor Ueda is scheduled to attend the Lower House Budget Committee from 1 p.m. As other central banks move to raise interest rates in response to inflation, close attention is being paid to whether the governor's remarks will indicate a hawkish stance.