In the Tokyo market on the morning of the 27th, dollar-yen rebounded from the previous day's move triggered by persistently high US inflation and rose into the upper 159-yen range. Remarks by the BOJ deputy governor offered little new, while expectations of a September rate hike also prompted yen selling.
In the Tokyo market on the morning of the 27th, dollar-yen rebounded from the previous day's dollar-buying prompted by persistently high US inflation, falling to 159.11 yen in the morning before rising to 159.39 yen.
Yen crosses followed a similar pattern, with euro-yen trading in a range of 185.47-185.77 yen and euro-dollar in a range of 1.1653-1.1659 dollars.
In remarks by an official, Himino (氷見野), Deputy Governor of the Bank of Japan, stressed that the focus was on adjusting the degree of monetary easing rather than tightening, and said he expected year-on-year inflation to remain above 2% in the second half of the fiscal year. He also indicated a willingness to consider raising the policy rate.