BOJ left policy unchanged:
BOJ announce no change to monetary policy
The response of the yen was swift:
Yen crosses have surged after the BOJ announced policy held steady
An update now, very volatile ICYMI. These are one minute bars to give you a taste for it if you are staring at your phone from bed:
If you are sitting at your desk you don’t need this post of course. Just to make it worthwhile I think the on hold decision from the BOJ sets up another go at 135 for USD/JPY later today or into the new week. This time it should get through. While there are expectations of the BOJ cuttin back on easy policy they have not given much indication of it any time soon.
Meanwhile the Fed this week embarked on more aggressive rate hikes.
CPI is what, 8.6% and Fed funds 1.5 – 1.75%? MOAR FOMC hikes to come real soon!