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USD/JPY falls following BOJ comments
As the Nikkei 225 opened higher earlier today that was the catalyst for the Yen to weaken and the USD/JPY extended a move which had seen it rebound from just above 150 following the weak US ISM data. Much earlier yesterday the USD/JPY had lifted to 151.22. The dollar later closed in the US at 150.59. So, as the Japanese markets got underway the dollar edged to 150.78. However, since then it has fallen back to a low a short while ago, at 149.70. The reason for that was down to comments from a leading BOJ board member (Nakamura), who suggested he is not against a rate hike on December 19. The fact that US yields have not bounced today is a reason for the lack of traction in the USD/JPY. It is currently trading at 149.72
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