Yen Gains After BOJ But Outlook Remains Uncertain, Analysts Say.

The yen experienced a gain after the Bank of Japan (BOJ) rate hike and Governor Kazuo Ueda's press conference, according to analysts and strategists. European traders are purchasing the yen against the dollar, and the yen is expected to test the 150-yen level due to the BOJ's pressure on the currency. The rate hike by the BOJ was seen as preemptive and reflects their increased confidence in the economy and inflation. There may be another interest-rate hike by the BOJ in the near future, which could lead to higher credit spreads and a decrease in demand for corporate bond investment. The BOJ's decision was seen as mixed and did not significantly exceed market expectations. [Extracted from the article]