0229 GMT - The dollar is likely to trade in a range between Y150.50 and Y152.80 this week, with a technical support seen at around Y148.65 in the near term, says Sony Financial Group analyst Maki Ogawa. The yen is likely to remain on solid footing amid expectations for additional Bank of Japan rate increases, Ogawa says. Some market players expect the BOJ to raise its policy rate as soon as in May. Meanwhile, the Federal Reserve could still cut rates this year as wage-led inflation is unlikely to accelerate again, Ogawa adds. USD/JPY is changing hands at 152.00. (megumi.fujikawa@wsj.com)
(END) Dow Jones Newswires
February 09, 2025 21:30 ET (02:30 GMT)
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