USD/JPY flows: Beaten by BOJ's Takata

BOJ's Takata made a remark that momentum is rising in spring wage talks with many companies are offering higher-than-2023 wage hikes. He also highlights exit measures like abandoning yield curve control framework, ending negative rates, overshoot commitment. JPY rose as it is the first direct comment on acknowledging achievement of 2% inflation target is becoming in sight and indirectly suggest a hike is imminent, at least bringing rates out of negative.

USD/JPY dropped 0.58% to 149.81 on its mark with JGBs yield performing strongly.