A holiday in Japan is giving markets time to digest the BOJ's momentous monetary policy decision and to focus on the equally consequential Fed policy...
A holiday in Japan is giving markets time to digest the BOJ's momentous monetary policy decision and to focus on the equally consequential Fed policy decision due Wednesday.
Already a top performer among major currencies this year, sterling made more headway against the yen overnight, as did the euro rising to 16-year highs against the yen.For, while the BOJ has abandoned negative rates, the yen remains undeniably the cheapest funding currency on the block, and the Fed's certain to drive that message home further.
Futures now imply markets have pushed back the timing for the first Fed cut to June, and maybe even July.
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