USD/JPY flows: Clam before BoJ

After the rally in the previous U.S. session from the hawkish Fed dot plot, USD/JPY is trading close to unchanged before BoJ. Market participants have taken cue from the earlier "leak" last week and are expecting no change to policy in the December meeting while we favor a move from the BoJ, likely a 10bps hike for the current inflationary development.

USD/JPY is trading 0.02% higher at 154.84.