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Japanese Yen continued to stay well supported today after policymakers of the Bank of Japan (BOJ) said the real policy interest rate remains the lowest globally and it is desirable to steadily raise the rate to support economy and curb inflationary pressures. According to the summary of opinions at the monetary policy meeting held earlier this month showed that the board unanimously decided to hike the uncollateralized overnight call rate to around 0.75 percent from around 0.5 percent. Following this, the interest rate has hit the highest level since 1995. Previously, the BoJ had lifted the benchmark rate by 25 basis points in January 2025. USD/JPY hovered around 156 mark today amid thin trades as the year-end lull stayed in place. The pair quotes at 156.19, down marginally on the day. USD/JPY has held elevated recently but the shifting stance of the BOJ is now pulling the pair off 158 - the highs of the year.

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