Yen Gains on Strong Wage Data, Hawkish BoJ Minutes as USD Softens
The Japanese yen firmed against the dollar in Asian trading, buoyed by upbeat domestic wage data and hawkish Bank of Japan meeting minutes, while the US currency remained under pressure.
USD/JPY edged lower during Wednesday’s Asian session, struggling to extend this week’s bounce from the 155.25–155.20 support zone. The pair held just above the mid-157.00s, but lacked follow-through buying.
Japan’s latest wage numbers pointed to improving income trends, reinforcing expectations that the Bank of Japan may keep normalizing policy. The BoJ’s meeting minutes struck a hawkish tone, contrasting with a softer dollar amid mixed US macro signals.
Market participants are now watching for further clues on the pace of any potential BoJ rate moves, as well as upcoming US data that could shift near-term dollar dynamics.
Source: FXStreet Forex News