The dollar-yen rate was flat around ¥153.50 at 3 p.m. Markets were in wait-and-see mode ahead of the release of U.S. inflation data. Remarks by an additional BOJ Policy Board member did not indicate an acceleration in the pace of rate hikes, shifting the market's focus to September's CPI.
The dollar-yen rate was trading at around ¥153.59 as of 3 p.m., with wait-and-see sentiment spreading ahead of the release of U.S. inflation data. There was limited movement compared with late in the New York session.
Remarks by an additional BOJ Policy Board member were taken as not providing any specific indication of an acceleration in the pace of rate hikes, while also not pushing back expectations of a September hike. Neither yen-selling nor yen-buying gained momentum in the market, and there was little sense of direction.
In the morning, there were calls for the Bank of Japan to move quickly to eliminate negative real interest rates. The remarks did not indicate an early rate hike. Among market participants, only a limited number took the view that the possibility of a September hike could be ruled out entirely, while many expected the current stance to be maintained.