On the 13th, dollar/yen moved sensitively against the backdrop of reports concerning BOJ monetary policy and extended its downside in European trading. It stood at ¥158.11 as of 20:00, and after reports that the BOJ was likely to forgo a rate hike at this month's meeting circulated, it was briefly sold down to the low ¥158 range before rebounding to the upper ¥158 range.
In European foreign-exchange trading on the 13th, dollar/yen extended its downside, trading at ¥158.11 per dollar as of 20:00, approximately 10 sen below the ¥158.21 level at 17:00. The market reacted nervously when remarks by people familiar with the BOJ's monetary policy circulated, and dollar/yen was briefly sold down to ¥157.83.
Reports that the BOJ was highly likely to forgo a rate hike at this month's monetary policy meeting drew attention among market participants. In response, dollar/yen briefly rose to around ¥158.37, but views that a December rate hike had not been ruled out also circulated, and selling regained the upper hand, pushing the pair down to ¥157.83. It subsequently rebounded to the low ¥158 range.
In Asian trading, dollar/yen had risen to ¥158.75 the previous day after breaking above the 200-day moving average at ¥158.55, but it came under profit-taking selling amid a lack of fresh catalysts and was briefly down to ¥158.11. Euro/dollar traded at 1.1185 and euro/yen at ¥176.85.