There isn’t much here to move the FX around too much upon release.
With USD/JPY well above 151.00 still, be on the lookout for verbal intervention from Japan again.
Yesterday this put a dent in USD/JPY for a little while:
Japan Kanda says closely watching FX moves with high sense of urgency
As did the January meeting minutes:
BOJ not under pressure to accelerate rate hikes at pace that is seen in western countries
Back to verbal intervention, Kanda was more forceful yesterday, his remarks conformed to a known pattern:
Here’s what to watch for to warn of imminent Bank of Japan (BOJ) yen interventionThe 4 things to watch prior to Bank of Japan FX yen intervention
This article was written by Eamonn Sheridan at www.forexlive.com.