USD/JPY Strengthens to 156!
USD/JPY rose towards 156.50 in early Asia, supported by cautious sentiment from Fed officials who believe current policy is appropriate. Markets are beginning to reduce expectations for interest rate cuts, although comments from John Williams, who still left the door open for a cut, have kept the dollar's direction mixed.
The pair's gains were tempered by a Japanese warning. Finance Minister Satsuki Katayama emphasized the possibility of intervention if the yen's movements are deemed excessive, prompting market participants to exercise caution.
The Bank of Japan (BoJ) remains on hold at 0.5%, but Governor Ueda has signaled a strong likelihood of a rate hike in the coming months. Most economists now expect a hike to 0.75% in December.(asd)
Source: Newsmaker.id