USD/JPY flows: Below 150

Reuters reported that Bank of Japan will likely revise down assessment on consumption and output without changing the forecast for moderate economic recovery at March meeting. Household spending and auto disruption were cited as the key reasons. The headline also said the changes are unlikely to affect timing of exit from stimulus. From the wage negotiation end, we are hearing that Toyota will be responding to the union hike demand on next Wednesday.

U.S. Treasury Yields are lower while JGB yields higher. USD/JPY rotated below 150 to 149.81 and is 0.15% lower for the session.