Although U.S. GDP data was firm, dollar gains remained limited, and market attention has turned to the Bank of Japan's Monetary Policy Meeting and Governor Ueda's press conference. USD/JPY was reported to have risen to around 158 before being pushed back into the 157 range.
A video reviewed the previous day's market action, focusing on USD/JPY, and provided an outlook for today. The U.S. economic data releases included the September PCE deflator and July–September GDP, and it was explained that the market moved in response to them.
As the latest market developments, the U.S. data releases were cited as a market factor. USD/JPY was summarized as having briefly risen to around 158.12 before being pushed back into the 157 range by concerns related to AI stocks and the decline in U.S. equities.
The Bank of Japan's Monetary Policy Meeting was cited as today's key focus, with attention on the meeting's outcome and comments made by Governor Ueda at his press conference. The market is also focused on whether the BOJ signals a rate hike in December.
The English summary indicated that while the Bank of Japan is expected to leave its current policy rate unchanged, the possibility of a December rate hike could influence market expectations.