Kuroda is not for turning, but will step down soon

Link to slide deck: https://bit.ly/3kpPRzF   - Today, we look at the jolt back to the downside for the JPY after wily Bank of Japan governor Kuroda failed to deliver further policy tweaks and looks set to end his time at the helm in April without offering further policy tightening. Still, the JPY may not sell-off much more beyond the knee-jerk as bond yields are on the decline, keeping spreads to "capped" Japanese yields orderly and even tighter. Elsewhere, we note easign financial conditions and plenty of USD liquidity and whether it has the potential to driver further gains for risky assets and a weaker US dollar. We also dive into the latest on crude oil and metals, and earnings reports and macro data up today in the US. Today's pod features Ole Hansen on commodities and John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic