USD/JPY flows: Early Spike Faded

The early spike in USD/JPY is faded by hope on a BoJ hike this week and the latest Trump remark does not seem too out of line from expectation. The USD is broadly lower even on a U.S. holiday after Trump's inauguration.

And is supporting the JPY to see USD/JPY down 0.24% to 155.87 after an early spike to 156.57.