Dollar/yen pulled back from the low 156s, falling to 155.72. The market is focused on tomorrow's announcement of the Bank of Japan monetary policy meeting decision and Bank of Japan Governor Ueda Kazuo's (植田和男) press conference.
Dollar/yen, which had been moving sluggishly in the low 156s, fell back below 156 and dropped to 155.72. Euro/yen followed lower to 178.58. The market is focused on tomorrow's announcement of the Bank of Japan monetary policy meeting decision and the press conference.
A 0.25% rate hike is considered to be already priced in, and the focus is on whether the Bank of Japan will adopt a more hawkish stance toward additional rate hikes.