In the Tokyo market on the afternoon of the 13th, USD/JPY struggled to rise in the mid-158 yen range, while attention again focused on BOJ policy developments. The IMF has referred to the possibility of gradual BOJ tightening.
In the Tokyo market on the afternoon of the 13th, USD/JPY traded within a range of ¥158.19 to ¥158.65, with its recovery remaining sluggish. Major currencies were capped by a retreat in yen selling, and trading ranges narrowed.
The International Monetary Fund (IMF) referred to the possibility of gradual BOJ tightening. Although the current monetary policy stance is expected to be maintained at the end of this month, conditions are making an additional rate hike within the year increasingly likely to be in focus. As a result, the BOJ's policy direction is being closely watched in the foreign exchange market.
USD/JPY traded between ¥158.19 and ¥158.65, EUR/JPY between ¥176.70 and ¥176.98, and EUR/USD between 1.1153 and 1.1180. Market participants are assessing the BOJ's future direction and the outlook for a December rate hike as realistic factors for their decisions.