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  • Yen Plummets After BOJ Crushes Hawks: Will Take Up To 1.5 Years To Review Current Policy

    From zerohedge.com

    In a slap to the face of all those who naively expected that the BOJ would finally unveil some hawkish pivot (ignoring the fact that it owns more than 100% of Japan GDP in JGBs, has a DV01 in the tens of billions, and any market recoil to a hawkish BOJ pivot would instantly implode the world's 2nd biggest bond market) overnight the BOJ scrapped a key part of its forward guidance on interest rates in Kazuo Ueda’s first board meeting as governor, signaling the first step towards unwinding its ultra-loose monetary policy... an unwind which won't come for over a year however, if ever, and by then Japan will be back in ... (full story)

JPY Index Weekly Charts. In Jan, the target was 6445, then in Apr, was 6478.

Before & After
Attached Image(s) (click to enlarge)
Click to Enlarge Name: JPYX weekly 01-21-23 Before.png Size: 51 KB
Click to Enlarge Name: JPYX weekly 04-15-23 Before.png Size: 51 KB
Click to Enlarge Name: JPYX weekly 04-29-23 After.png Size: 51 KB
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