现货白银日内涨幅扩大至2.00%，现报66.52美元/盎司，现货黄金突破4370美元/盎司，日内涨0.69%。

The yen fell after the Bank of Japan delivered an expected 25bp rate rise, following an earlier hawkish Fed hike that had already pressured the currency. Earlier this month the yen had rallied on bets of faster BoJ tightening, unwind of yen funding arbitrage and speculation that Japanese pension funds would repatriate assets. Strategists warn that if markets conclude the BoJ cannot tighten as fast as the Fed, USD/JPY could move toward 160. With 25bp largely priced in, Friday’s decision or any subsequent communication read as dovish would raise that risk. The latest leg lower has put intervention risk back on the table; officials have stressed concern about the speed and disorderliness of moves rather than a specific level, but another push near 160 could test their tolerance. Traders will watch Governor Ueda’s post-decision press conference for guidance on the pace and scope of further tightening.

USD/JPY rises 1.00% intraday to 157.53.