BOJ governor Ueda: Weak yen was not necessarily the biggest reason for rate hike

Well, but is he saying that it sort of did play a role in the decision today? Personally, I would think so. If they didn’t go with a rate hike today, the backlash after their intervention from earlier this month might have been quite brutal. The volatility in the yen continues to play out with USD/JPY holding close to the 152.00 mark. The 200-day moving average (blue line) at 151.63 is the key support level to watch currently:

This article was written by Justin Low at www.forexlive.com.