MXNJPY and carry trade dynamics after recent BOJ comments

Watching $MXNJPY a bit closer than usual lately. The BOJ's slightly more hawkish undertones, even if just a whisper, have me considering the resilience of some of these carry-funded plays. We're sitting around 9.354 currently, after touching 9.38086 earlier today. While the carry remains attractive, particularly against the yen, the narrative around a potential shift in the BOJ's stance, however distant, introduces an interesting dynamic. It’s not about an imminent reversal, but rather a re-evaluation of the risk-reward skew on the longer end of these carry trades.