This comes a couple of days ahead of the BoJ’s monetary policy decision, the final one for Governor Haruhiko Kuroda, as his term expires in early April.

Market reaction

USD/JPY is consolidating near three-month highs of 137.50, adding 0.17% on the day. The pair benefits from higher US Treasury bonds yields, as hawkish Federal Reserve rate hike expectations storm through the roof on Chair Jerome Powell’s testimony.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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