USD/JPY flows: Softens before BoJ

The JPY is softening before the BoJ interest rate decision with no expecataion to change of rates and a glimpse of hope for hawkish forward guidance that is likely to be disappointed. The Japan February exports increased by 11.4% y/y while import contracted by 0.7% y/y, continues to point to weak private consumption.

USD/JPY is trading 0.23% higher at 149.60.