Traders Eye Yen’s 160 Level, BOJ Hawkish Overtures, Analysts Say

The Bank of Japan’s widely expected decision to hold its benchmark rate amid risks from the Iran war left the yen little changed, though analysts said Governor Kazuo Ueda’s remarks later would be key to whether the currency would swing past 160.

The yen was up 0.1% to 159.65 against the dollar as of 12:53pm in Tokyo. Meanwhile, the Nikkei 225 Index was down 2.7%, tracking broader risk-off sentiment across Asia.

Here’s what strategists are saying:

Hiroshi Namioka , chief strategist at T&D Asset Management:

Rinto Maruyama , FX and rates strategist at SMBC Nikko Securities Inc.

Eugenia Fabon Victorino , head of Asia strategy at SEB:

Yujiro Goto , chief FX strategist at Nomura Securities: