USD/JPY remained capped during Asian trading today. Easing rate-hike expectations following US CPI and the BOJ’s view supported the yen, sending the pair down to ¥157.578 before dip-buying lifted it back to around ¥158.00.
USD/JPY remained capped during Asian trading today. Against a backdrop of concerns over higher interest expenses for AI-related companies following the sharp decline in share prices, US CPI eased expectations of consecutive rate hikes by the Federal Reserve, weighing on the dollar.
The view expressed by BOJ Policy Board member Koeda (小枝) that “there is no need to be excessively cautious about rate hikes while the risks of rising prices remain commensurate” pushed the yen higher, sending USD/JPY temporarily down to ¥157.578. The pair subsequently recovered to around ¥158.00 on dip-buying.
As of now, sell orders are observed at ¥158.200, ¥158.300 and ¥158.350, while buy orders are waiting at ¥157.500. These levels are attracting attention in USD/JPY order information.