BANK OF JAPAN RATE HIKE AND IMPACT ON YEN

BANK OF JAPAN RATE HIKE AND IMPACT ON YEN
BANK OF JAPAN RATE HIKE AND IMPACT ON YEN

BANK OF JAPAN RATE HIKE AND IMPACT ON YEN

The BoJ raised rates as expected, signaling a shift in its policy.

The BoJ issued updated economic forecasts following the rate hike.

The yen strengthened, causing USD/JPY to dip lower in response to the statement and forecasts.

Other yen crosses are also moving lower alongside the USD/JPY.

The possibility of further yen strength if BoJ Governor Ueda adopts a hawkish stance in the upcoming press conference (scheduled for 0630 GMT / 0130 US Eastern).