Despite a hawkish sounding BoJ board member Koeda the yen has fallen further, 157.40

Koeda joined the Bank of Japan nine-member board on March 26 this year.

At each of the five policy-setting meetings she has attended so far she voted for leaving the policy rate at 0.5%.

She seems to have become more hawkish in her speech today:

• BOJ’s Koeda signals need for further tightening as inflation holds near 2%

USD/JPY is shrugging it off, rising to a fresh high above 157.40.

JGB yields have continued higher too, as Japan's latest fiscal package promises to balloon debt even further.