In the New York market on the 18th, the yen weakened to the upper ¥156 range before expectations of a Bank of Japan rate check became the market's focus. Attention is also centered on the BOJ's rate hike decision and the outlook for interest rates.
In the New York foreign exchange market on the 18th, the yen briefly reached the upper ¥156 range against the dollar. Selling the yen and buying the dollar prevailed in the morning, but the yen was subsequently bought back rapidly.
As of 12:15 p.m., dollar-yen was in a range of ¥156.80–¥156.90, while the euro was expected to trade at $1.1463–$1.1473 per euro and ¥179.85–¥179.95. The Bank of Japan decided to raise interest rates at its monetary policy meeting on the 18th, but expectations for further rate hikes have receded amid growing views that the decision passed with 2 policy board members in favor and 1 against.