The USD/JPY pair lacks any firm intraday direction on Thursday and oscillates in a narrow band during the Asian session, just below the 151.00 mark, or a one-week high touched the previous day.
USD/JPY is seen consolidating its weekly gains registered over the past three days. Intervention fears turn out to be a key factor acting as a headwind for the major. The divergent BoJ-Fed policy outlook continues to lend support and limit losses. Spot prices, for now, seem to have snapped a three-day winning streak.
In contrast, the recent remarks by several Fed officials suggested that the central bank might not be done with raising interest rates. The USD/JPY pair, meanwhile, moves little following the release of the BoJ Summary of Opinions earlier this Thursday. Even the latest Chinese consumer inflation figures, which pointed to sustained disinflationary pressures, also did little to provide any meaningful impetus.
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