USD/JPY: BoJ normalization expectations into April meeting – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading just below 160.00 as the Bank of Japan (BoJ) releases new underlying CPI indicators, which remain below the 2% target but are converging toward it. Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading just below 160.00 as the Bank of Japan (BoJ) releases new underlying CPI… Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading just below 160.00 as the Bank of Japan (BoJ) releases new underlying CPI indicators, which remain below the 2% target but are converging toward it. Brown Brothers Harriman’s (BBH) Elias Haddad notes USD/JPY is trading just below 160.00 as the Bank of Japan (BoJ) releases new underlying CPI indicators, which remain below the 2% target but are converging toward it. BBH economists expect a 25 bps BoJ hike to 1.00% at the April 28 meeting, with about two-thirds of that move already priced in.BoJ data backs gradual tightening path"USD/JPY is firmer just under 160.00. The… For traders, the practical value is less about the headline alone and more about how it changes context, sentiment and the quality of the next decision. Watch follow-through, not just the first reaction: liquidity, volatility and confirmation across related assets usually tell the real story.