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US Market Open: BoJ lifts rates by 25bps, but Ueda strikes a dovish tone, leading to JPY pressure; US equity futures are firmer
The BoJ hiked rates by 25bps to 1.25%, as expected, with the decision made by a 7-2 vote.In the press conference, BoJ Governor Ueda said the BoJ believes the phase of policy has changed but clarified that the objective is now to stabilise underlying inflation at around 2%.US equity futures are mixed, with outperformance in tech as gains extend following Nvidia's Huang comments of doubling chip sales in 2027.DXY is slightly firmer; JPY the clear laggard as 2 dissenters give the BoJ a dovish tilt.Fixed income benchmarks are lower due to multiple factors which include elevated energy prices and…
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