On April 28, the Bank of Japan bucked market speculation and left monetary policy unchanged. USDJPY continued on its uptrend, but JPY rates remained steady and JPY basis widened. Those trends did not change over Golden Week, even after the FOMC meeting.
In today’s episode, MUFG Chief Japan Strategist Takahiro Sekido discusses the April BoJ Monetary Policy Board meeting and BoJ monetary operations, and also outlines the key points regarding JPY cross assets in May. He also shares his views on spot Dollar/Yen, Yen rate, and Yen basis.
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