The Bank of Japan January 2023 monetary policy meeting begins today, Tuesday, 17 January 2023. It concludes tomorrow. The statement should be sometime after 0230 GMT on Tuesday, 17 January 2023.


This now from Goldman Sachs,

via the folks at eFX.

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  • "We have long been arguing that the bigger driver of the cross should be US rates rather than domestic monetary policy, though our estimates suggest we could see another USD/ PY sell-off of roughly 3%—or a decline to levels just below 125 versus current spot," GS notes.
  • "While our economists expect the Boj to keep YCC in place with possible further tweaks to improve its sustainability, the increased risk of a complete exit means we see more limited room for USD/JPY upside and, as a result, recently revised down our forecast path," GS adds.
usdyen daily Goldman Sachs 17 January 2023