Tokyo Is Shut Until Thursday, and the Bank of Japan Checked Rates on the Way Out
USD/JPY opens the week at 156.68–156.96 with Tokyo shut for three days — and the last thing the Bank of Japan did before the holiday was ring dealers to check where the yen was.
Our Friday band for the high was 157.33 to a little above 157.80; the day printed 157.96 or 158.05 depending on which desk you read. Thursday is the day Tokyo reopens and the day the 1.25% takes effect.