The yen weakened further in the London market, with USD/JPY moving into the upper 157s and EUR/JPY rising above 181. Market moves have continued against the backdrop of the BOJ meeting and the Governor's remarks.
The yen weakened further in the London market, with USD/JPY renewing its high at 157.84. The report states that the BOJ's monetary policy meeting announced a 0.25% rate hike, with the vote split 7-2 as Board members Asada (浅田) and Sato (佐藤) argued for keeping rates unchanged.
At the BOJ Governor's press conference in the early London session, Ueda (植田) said that the policy phase had changed. Underlying inflation was said to be approaching 2%, but specific comments on the size or pace of future rate hikes were avoided. The yen's decline reportedly resumed in response.
Cross-yen pairs rose across the board, with EUR/JPY renewing its high for the day at 181.29 and GBP/JPY doing so at 211.04. Dollar-based currency pairs have likewise seen only a brief, modest decline in the dollar.
The latest figures reported are USD/JPY at 157.83, EUR/JPY at 181.29 and GBP/JPY at 211.02.