business π USD/JPY stuck in a tight range, waiting for BoJ moves
The USD/JPY pair held steady around 159.31 on Thursday, as investors keenly watch the Bank of Japan's monetary policy outlook. Markets now estimate an 87% chance of a 25-basis-point BoJ rate hike in September, a big jump from 23% before July. Former BoJ member Seiji Adachi suggested a hike as early as next month, warning of inflation if rates stay the same. Attention is now fixed on Deputy Governor Ryozo Himino's speech for fresh signals regarding the hike timing. Technically, a breakout above 159.60 could lead to gains toward 161.20. π