The Japanese yen climbed 0.50% earlier against the US dollar but was unable to consolidate these gains. Bank of Japan delivers hawkish holdThe Bank of Japan maintained its key interest rate at 0.50% at today's meeting. What was a surprise was the split vote, as two of the nine members voted in favor of a rate hike, indicating some support for a more hawkish montary policy. Governor Ueda has been cautious and has the markets guessing as to when the BoJ will raise rates. The markets have priced in a 59% chance of a rate hike before the end of the year, up from 50% a week ago, according to LSEG.