RBNZ据え置きとJPYの終わりのない綱引き

It's almost as if the JPY enjoys playing hard to get, isn't it? One of these days it'll give in, but until then, we'll just keep watching it flirt with those levels.

The RBNZ holding rates was indeed priced in, so not much volatility there. As for JPY, 'stubbornly resilient' might be one way to put it, or perhaps 'slowly depreciating despite interventions'. The inflation efforts seem to be a long game, and the market doesn't appear to be buying a quick turnaround.

I agree, the RBNZ hold was a non-event. It's the JPY situation that continues to perplex. Do you think the market is simply betting on a quicker pivot from the BOJ than their current rhetoric suggests, or is there another factor at play that's supporting it so strongly?