BoJ Hawkish Shift Supports Yen, but Low Terminal Rate Keeps Downtrend Intact

Yen strengthened broadly after the Bank of Japan’s hawkish hold, but gains are likely to be short-lived as markets question how far tightening can go. While the shift reinforces expectations for a near-term rate hike, Japan’s low terminal rate continues to cap upside and keep the broader downtrend intact. The 6–3 vote split marked a […]

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