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USD/JPY spikes from new session low as Ueda briefs the press
As the BOJ governor delivered his post policy decision press conference the Yen has gained. A little earlier the USD/JPY was trying to rebound from a prior test of the 155 handle. Well it then fell below that 155 handle for the first time today. The bent of what Ueda is saying seems to be priming the markets for potentially more rate increases to come. So money markets are now pricing another 0.25% rate hike in March. The USD/JPY set a low at 154.77 on Tuesday. It just now fell to 154.85. However, an even sharper rise to 155.70 then followed that fall. The price action is volatile and rapid as Ueda delivers some rather mixed messages to the markets, especially regarding trade and tariffs. The USD/JPY is right now at 155.32
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