Snapshot: The Nikkei 225 is down 1.01% to 59917, pressured by the Bank of Japan’s decision to hold its policy rate unchanged at <0.75%. Three board members advocating for a rate hike highlights growing concern over inflationary pressures. The BOJ’s Outlook Report is due at 12:04 JST.
- Watch for a break below 59703 (intraday low) which could signal further downside.
- The upcoming BOJ press conference at 15:30 JST could introduce volatility; pay close attention to any signals regarding future rate adjustments.
Bias into NY: Cautiously bearish on Nikkei as the unchanged policy rate disappointed some expectations of a hawkish shift; a break of 59700 could trigger further selling. A slightly stronger DXY (98.58) isn’t helping sentiment.