RBA Rate Hike Outlook: Impact on AUD/USD and ASX 200 
South Korea Central Bank Signals Inflation Concerns as Oil Prices Surge 
Japan Inflation Expectations Rise as BOJ Rate Hike Timing Faces Uncertainty 
ECB Rate Outlook: Ceasefire Eases Pressure but Hikes Still Expected in 2026 
South Korea Central Bank Signals Cautious Policy Amid Inflation and Middle East Tensions 
Fed’s Goolsbee Warns Inflation Remains Elevated, Signals Caution on Rate Cuts 
Bank of England Set to Hold Interest Rates as Inflation Risks and Iran War Impact Loom 
RBA Raises Interest Rates to 4.35% Amid Rising Inflation Risks and Middle East Tensions 
Bank of Japan Signals Potential Rate Hike as Inflation Risks Rise Amid Energy Shock 
Bank of Japan's Ueda Flags Low Real Interest Rates as Key Factor in Rate Hike Timing 
USDJPY was a notable beneficiary from Yellen's policy musings and renewed speculative enthusiasm to own the cross as the FED and BoJ meetings have prevented the cross from retracing in line with the rest of the dollar complex.
The yen backed away from one-week lows against the dollar on Wednesday amid doubts that possible further easing by the Bank of Japan would cause a significant downside for the currency.
While in some senses understandable, speculative demand for USD/JPY seems at odds with the relative performance of the US and Japanese bond markets whereby 10Y JGB yields have pushed to their highest levels since March and the spread to UST has remained closed to the lows for the year.
USDJPY is trading at 102.810, up 0.23% after rising as high as 103.35 earlier, the most since September 6.
So while the market is happy to buy USD/JPY as a positively convex play on the BoJ meeting, the result of such demand is that USD/JPY is now 2% expensive compared to the 10Y rate spread. Hold a USD/JPY put fly (100x98x96 in 1x2x1 notional) with 1w expiry.
