Daily Market Notes
Two Arrows, Not Two Upgrades — and the Bank's Own Page Did Not Have Its Own Report
The Bank of Japan's Regional Economic Report landed at 05:00 UTC, exactly where our calendar said. Two of nine regions carry an upward arrow, seven are unchanged - and the Bank's own footnote calls that arrow an acceleration in the pace of improvement, not an upgrade. At 06:17, seventy-seven minutes after publication, the Bank's own index page still showed July as the most recent edition; a cache-busted fetch one minute later had October at the head. Tokyo took out yesterday's 157.85 low at 157.58 and the report moved the pair 0.06 per cent.