The Nikkei website reports that the Bank of Japan will slightly raise its economic assessment in its monthly report for May.
A brighter economic outlook in Japan tends to weaken the JPY as Japanese investors send capital abroad in search of higher yields. The worse the news, the stronger the JPY.
USD/JPY has firmed to fresh session highs over the last half hour, nudging through Japanese sell orders at 95.80. 95.95 and 96.30 are modest resistance levels if the rally extends.
