Ella 
The Japanese Yen (JPY) maintained its selling tone in the early European trading session, despite a lack of bearish confidence amid growing acceptance that the Bank of Japan (BoJ) will further hike interest rates. Strong national consumer price index (CPI) data from Japan released early on Friday reaffirmed that bet, supporting a rise in Japanese government bond (JGB) yields. A narrowing interest rate differential between Japan and other countries provided support for the low-yielding yen.
Meanwhile, comments from Japanese Finance Minister Katsunobu Kato and Bank of Japan (BoJ) Governor Kazuo Ueda sparked speculation about possible intervention in the bond market to lower JGB yields. This weighed heavily on the Japanese yen (JPY) on Friday and helped USD/JPY stage a nice intraday rebound from the 149.30-149.25 area, its lowest level since early December. Traders are now looking forward to the upcoming release of flash global PMIs, which along with speeches from influential FOMC members will boost the dollar and provide some momentum.
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