Monday (Oct 31) subsession, / low surge higher, temporarily traded at 148.18, up 0.52%.
Lee Hardman at MUFG said Friday’s decision to remain ultra-loose left the yen vulnerable to further declines, but the extent of depreciation may be limited.
The retreat in government bond yields outside Japan over the past week is helping to curb speculative selling of the yen and the risk of intervention to support it.
Overall, the boj‘s dovish stance continues to weaken the yen, but downside risks to the currency are beginning to ease as global yields begin to peak in the near term.
Usdjpy hovered around 147.90 in early Tokyo trade.
The asset has been struggling to surpass those barriers since Friday and is expected to do so despite strong Japanese retail trade data.
