Published: 2024-05-28T05:47:13.000Z
USD/JPY flows: Retreated from 157
FX Analyst
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Suzuki repeats it is important currencies move in a stable manner reflecting fundamentals
Japan's Finance Minister Suzuki says has ruled out a multi-year income tax cut
Bank of Japan says services PPI has hit its fastest rate on increase since March 2015
As USD/JPY hovers around 157, we are hearing more jawboning from Suzuki, repeating it is important currencies move in a stable manner reflecting fundamentals. But what really giver JPY a few bids are higher Japan Services PPI at 2.8% y/y. Higher service PPI would be welcoming for the BoJ if they decided to further tighten, supporting the JPY.
USD/JPY is trading 0.01% lower at 156.79.