USD/JPY in focus as BOJ minutes show consensus for further rate hikes
Minutes from the Bank of Japan's September monetary policy meeting revealed a growing consensus among board members to continue raising interest rates. Global markets were also reacting to shifts following the US midterm elections, though the source gives no detail on the outcome. The source reports no USD/JPY price move, pip figures or technical levels. A board leaning toward further tightening is a fundamentally supportive signal for the yen, so traders may view the minutes as adding downside risk for USD/JPY. US political developments after the midterms remain an additional factor for the dollar side of the pair. Traders should monitor upcoming BOJ communication for confirmation of the timing of the next hike.
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