The USD/JPY pair dipped near 154.30 during the European session on Thursday (1/30). The asset weakened as the Japanese Yen (JPY) performed strongly across the board amid growing expectations that the Bank of Japan (BOJ) will continue to raise interest rates this year.
BoJ hawkish bets have been rising on the assumption that Japan's spring wage negotiations will result in another strong hike this year. On Thursday, BOJ Deputy Governor Ryozo Himino also said that the central bank "will raise interest rates if the economy and prices move in line with expectations."
Meanwhile, the US Dollar (USD) traded sideways after the Federal Reserve's (Fed) first monetary policy decision of the year left interest rates unchanged in the 4.25%-4.50% range, as expected. Fed Chair Jerome Powell has directed that the central bank will resume its policy easing cycle only if it sees progress in disinflation toward the central bank's 2% target or weakness in the labor market. (AL)
Source: FXstreet
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