 Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank's communication. These changes are anticipated to lay the groundwork for concluding the yield curve control policy in January, followed by a possible rate hike in April to exit the prolonged phase of negative interest rates. However, given the BoJ's history of unexpected moves, traders are bracing themselves for substantial volatility, regardless of the decision made... |
