USD/JPY pulls back after briefly breaching 145.00 as BOJ reaffirms caution – Société Générale

  • USD/JPY briefly breached the psychologically significant 145.00 level before pulling back, as dovish remarks from BOJ Governor Ueda reinforced market expectations for a slow and cautious policy normalization. Despite some inflation gauges exceeding BOJ projections, underlying inflation remains subdued, limiting the urgency for rate hikes, Société Générale's FX analysts note.