BOJ hiked, but stayed dovish → yen weak → USD/JPY up.
BOJ clearly said real interest rates remain significantly negative. That means yen is still cheap to fund.
Even at 0.75%, Japan rates are far below US yields. Carry trade demand stays strong.
BOJ clearly said real interest rates remain significantly negative. That means yen is still cheap to fund.
Even at 0.75%, Japan rates are far below US yields. Carry trade demand stays strong.