USD/JPY continues to shrug off the latest bout of USD weakness with JPY cross buying still strong. GBP/JPY has just edged above the London highs to trade to 226.50 with next resistance at the Asian highs around 226.80. Similarly, AUD/JPY remains firm, trading at today's session highs around 90.60 and EUR/JPY are testing the session highs around 153.10.
Offers remain on EUR/JPY at 153.30 and 153.50. Despite the cross-related support, good offers remain on USD/JPY at 115.20. Importer, Japanese investor and option-related bids are strong on dips to 114.50. In the wake of recent hawkish BOJ comments, the Nikkei reports today that the latest Economic Planning Association survey of private sector economists show that 13 out of 36 economists surveyed believe that the BOJ will hike rates this month, while 12 forecast a rate hike in January.
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