Yen finding strength, USD/JPY around 154.50

  • Ishiba / Trump meeting coming up .... smoking gun?

The response to a Federal Open Market Committee (FOMC) on hold has been yen buying in Asia morning trade:

usdyen Federal Open Market Committee (FOMC) hold 30 January 2025 2

There is no fresh news of note. Although I did posit the potential for a lower USD/JPY here earlier:

I wasn't really convinced .... but here we are.

One thing to be aware of is liquidity is thinner than normal again today with Singapore and Hong Kong on holidays (mainland China also):

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