USD/JPY flows: Same Old Ueda

The February Japan Services Producer Price Index stays solid at +3% y/y, continue to point towards inflationary pressure. BoJ Governor Ueda came with the same rhetoric on more rate hikes and potential scenarios of not hiking. It is not the hawkish remark market participants are looking for and see JPY weakens on less prospect of an imminent hike.

USD/JPY is trading 0.43% higher at 150.54.