FOREX-Yen dips after BOJ raises rates in widely anticipated move

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BOJ raises rates as expected, yen eases

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Focus is on BOJ Governor Ueda's press conference at 0630 GMT

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Euro under pressure on lack of ECB outlook

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BoE cut much closer run than market expected; sterling steady

(Updates with analyst quote in paragraph 4)

By Tom Westbrook

SINGAPORE, Dec 19 (Reuters) - The yen fell slightly on Friday after the Bank of Japan delivered a widely expected rate hike, leaving markets awaiting further details from ?its governor later in the day for clarity on whether the central bank can keep hiking rates next year.

The yen was down 0.25% at 155.95 per dollar ?after the BOJ raised its policy rate to 0.75% from 0.5% in a move that had been well telegraphed by ?policymakers, prompting traders to sell the currency on the outcome.

The euro was up 0.23% ?at 182.67 yen, while sterling rose ?0.16% to 208.42 yen, both largely unchanged from levels prior to the decision.

"Today's rate hike was fully priced into markets. So perhaps, the markets were disappointed ?they didn't get further clarity on the timing and pace of ?further hikes," said Abhijit Surya, senior Asia-Pacific economist at Capital Economics.

Much of the yen's trajectory now hinges on BOJ Governor Kazuo Ueda's press conference at 0630 GMT to lay out the future interest ?rate path. Sources previously told Reuters the BOJ would not ?publish updated findings ?of its neutral rate estimate or use it as a key communication tool.

EURO DIPS AS LAGARDE REBUFFS HAWKS

Overnight, the dollar had briefly weakened following a sharp and unexpected fall in U.S. inflation, but investors were ?not sure how far to trust the data since collection was interrupted by the U.S. government shutdown, and the move soon retraced.

Sterling round-tripped to sit at $1.3378 after the Bank of England cut interest rates to 3.75%, as expected, but the decision was closer-run than the market had anticipated which may limit the room for further easing.

The euro dipped about 0.1% overnight and was flat at $1.1722 in Asia, weighed down because European Central Bank chief Christine Lagarde offered no forward guidance ?and said ?all options were on the table, pushing back against more hawkish members.

"In recent weeks, hawkish commentary from ECB Executive Board Member Schnabel had driven a shift in the market's assessment of the risks to policy moving ?forward," ANZ analysts said in a note to clients. "But (the) balanced tone signals Schnabel's view that the next move is more likely to be a hike is not broadly shared across the council."

The ECB left its policy rate on hold at 2%, as expected.

NORWAY, SWEDEN HOLD RATES

Norway's crown was little changed at 10.16 per dollar after the central bank left rates on hold at 4% and indicated it was in no hurry to cut. There was not much movement in the Swedish crown after rates were left on hold, as ?expected.

The Australian dollar eased 0.05% to $0.6610, while the New Zealand dollar fell 0.18% to $0.5765.

China's yuan was firm in onshore trade, hovering near a more than one-year high hit on Thursday, while South Korea's won has been under sustained selling pressure and was wobbly at 1477 per dollar.

Cryptocurrencies bounced on Friday, with ?bitcoin up 1.5% at $86,909.22, while ether rose more than 3% to $2,915.83. (Reporting by Tom Westbrook; Editing by Shri Navaratnam and Jamie Freed)