USD/JPY flows: Remains volatile

The USD/JPY remains to be volatile as market participants braces for more BoJ speakers. A member said in the July Bank of Japan Summary of Opinions that neutral rates should be at least 1%, which seems to be driving the early bids in JPY. We also heard from Japan finance minister Suzuki says no comment on BOJ Uchida's remarks which seems Uchida was just trying to calm the market rather than a policy tilt.

USD/JPY dipped to 145.42 in early Tokyo and is currently trading just 0.13% lower at 146.49.