USD/JPY rotates below 160
After touching a session high at 160.19, USD/JPY has rotated lower to 159.78, trading 0.18% lower for Monday. The key drive came from rhetoric of U.S. Bessent and Fed's Warsh. They are signaling a somewhat conflicted message as they are on different end of the same team. Warsh hawkish comment drove the pair past 10 on Friday but over the weekend, Bessent's approval of JPY and potential BoJ policy has kept JPY hawks hopeful.