USD/JPY: Yen falls as BoJ hikes to 1.25% on 7-2 vote with dovish dissents
The yen weakened after the Bank of Japan's rate decision; the source reports no pip figure or price levels for the move. The BoJ raised its policy rate to 1.25% on a 7-2 vote. The two dissents were dovish and came from appointees of Takaichi. The market read the split vote as a sign of internal resistance to further tightening, which took the shine off the hike itself and weighed on the yen. The decision shifts attention to what the vote split signals for the BoJ's December meeting. For traders, the dovish dissents suggest the pace of future hikes may be contested within the board. That leaves the yen sensitive to BoJ communication and to political influence over policy ahead of December.
Related Symbols:
USDJPY
This is a summary of the original article by financefeeds.com. To read the complete article, please visit the source website:
Read Full Article at financefeeds.comNews data provided by Marketaux. ForexSentiment.live provides this summary as a convenience with proper attribution to the original source. The full article is available at the original publisher's website.
