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USD/JPY lifts back above 147.50 as BOJ rate increase said to be in the balance
The USD/JPY has lifted today. The move comes amid a flurry of comments and statements about the prospect of a Bank of Japan policy change next week. The USD/JPY had closed in the US last night at 146.95. The range seen so far today has been covered by 146.62 to 147.60. The rebound off that Asian low means the 146.50 level has capped the downside again and this recovery comes ahead of some very important US economic data due out later today, at 12.30pm GMT. That is the February CPI report and there will be more to add on that a little later this morning. The main reason for the rebound is due to a series of comments that might suggest a BOJ rate increase next week is not by any means a done deal. That is what has really helped the dollar to rebound today. It is currently trading at 147.51
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