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Watching NZDJPY as BoJ rhetoric shifts
It's interesting to see $NZDJPY pushing up to 93.395 today. We're seeing a bit more of a hawkish tilt from some BoJ members, or at least a less dovish one, which typically puts a bit of a dampener on JPY crosses. Yet, the Kiwi seems to be finding its own momentum. I'm keeping an eye on whether this is simply short-term noise or if there's a more fundamental divergence brewing between the two, especially with the RBNZ still perceived as relatively firm on inflation.
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