BoJ and USDJPY
BOJ holds rates at 0.75% (6-3 split).
- 3 members pushed for a hike.
- Core inflation forecast raised to 2.8%, growth cut to 0.5%.
- Ueda stays cautious, hawkish undertone.
- Yen jumps, then fades. Nikkei -1%.
- Markets eye June hike.
- Hawkish hold puts pressure on yen.
USDJPY is approaching our target, it should be a nice short opportunity.
