In Japanese and US markets on the 17th, the yen traded around ¥156 and remained capped against a backdrop of expectations that its direction would depend on BOJ policy. Stocks rose, while ultra-long-term bond yields fell.
In Japanese markets on the 17th, the yen traded around ¥156 to the dollar. As the dollar's rise following the US FOMC's rate hike paused, caution toward selling the yen spread ahead of the BOJ's monetary policy decision, buying prevailed in equities, and ultra-long-term interest rates fell in the bond market.
On the 16th, the FOMC raised its policy rate by 0.25 percentage points, and its interest-rate outlook signaled an additional rate hike later this year. As markets closely watch interest-rate trends, the dollar's upward momentum has slowed further.
Fed Chair Warsh reiterated his concerns about inflation.