USD/JPY flows: Consolidates Friday Losses

The BoJ does not seem to be worried about a slow grind higher in JGB yields unless it is an abrupt spike. It is understandable as it will be counterintuitive if the BoJ is looking towards further tightening but not higher yields.

There was worry in the market that there will be an imminent intervention but such was already reversed on Friday as haven bids saved JPY. The USD/JPY is consolidating the moves and see it trading 0.03% at149.27.