[Nomura: Fed Policy Expected to Dominate USD/JPY Trends] According to a report by Jinse Finance on June 18, Takahide Kiuchi, an economist at Nomura Research Institute, stated that future Federal Reserve policy is likely to become the primary driving factor for USD/JPY trends. Despite the Bank of Japan's recent rate hike, USD/JPY remains above 160. Takahide Kiuchi pointed out that the Fed's latest dot plot has not yet fully reflected the impact of falling oil prices following progress in U.S.-Iran negotiations. While the decline in energy costs is expected to quickly lower U.S. retail gasoline prices, the future path of Fed policy will still largely depend on the trend of non-energy prices. 'If the Fed under Walsh's leadership reduces communication about future monetary policy and lowers financial market transparency, market volatility could intensify,' he added. (Jin10)