JPY

"BOJ to bid farewell to stimulus era, justify rate hikes in policy review"

• The Bank of Japan will release findings of its policy review on December 19

MUFG says Japan rate increases will accelerate, due to more inflation pressure

• MUFG Chairman comments

Japan finance minister Kato - will continue to take action on excessive FX moves

• Kato late to the game today

Japanese Economic Revitalisation Minister Akazawa says crucial to boost pay

• Spoke also on the economic package

USD/JPY drops towards 154.00

USD/JPY 160 level - potential BOJ intervention, rate hike

• Citi and MUFG anticipate USD/JPY hitting 160 with intervention risk if breached. BoJ may hike rates in January after strong Q3 GDP data.

ICYMI - Citi base case is for no USD/JPY intervention before 160

• Above 160 ratchets up the probability of a 50bp December Bank of Japan rate hike too

USDJPY Technical Analysis – The market looks fine with the current pricing

• The USDJPY pair pulled back into a major trendline as the US Dollar failed to extend the gains on hot inflation readings and a less dovish Powell. What’s next?

Bank Japan Gov Ueda - Driver of Japan's inflation shifting towards rise in domestic wages.

• More from Bank of Japan Governor Ueda

USD/JPY volatile on Bank of Japan Governor Ueda speech

• Big jump in USD/JPY on the speech

Bank of Japan Governor Ueda says economy recovering moderately, some weak signs

• Bank of Japan Governor Ueda speech

Bank of Japan Governor Ueda about to speak - rate hike clues incoming?

• Bank of Japan Governor Ueda preview

Japan Machinery orders for September 2024: -0.7% m/m (expected +1.9%)

• A leading indicator of capital spending in the coming six to nine months

Newsquawk Week Ahead: UK data; RBA Minutes; Japanese CPI

• Highlights for the week include inflation and retail data out of the UK, Flash PMIs in the UK & Europe and rate decisions from SARB and CBRT

USD/JPY continues retracement, now down 200 pips

• USD/JPY down to 154.25