The Bank of Japan (BoJ) raised rates to a 30-year high and signaled further hikes, but the yen weakened as markets judged the tightening path too slow to drive a near-term Japanese Yen (JPY) rebound, Commerzbank's FX analyst Volkmar Baur notes.
The NZD/USD pair attracts some sellers to around 0.5760 during the early European trading hours on Friday, pressured by renewed US Dollar (USD) demand. Traders will keep an eye on the University of Michigan Consumer Sentiment Index and UoM Consumer Inflation Expectations data later on Friday.
Bank of Japan (BoJ) Governor Kazuo Ueda is addressing a press conference on Friday, explaining the central bank’s decision to hike the short-term interest rate from 0.5% to 0.75% following its December monetary policy review meeting.