Yen Bears Brace for Weakness Ahead of Bank of Japan Meet: Chart

Investors are paying the stiffest premium in three months to hedge against the risk of a weaker yen over the next one-week period relative to cost of the same risk over a month, suggesting market expectations are mounting that the Bank of Japan will ease policy at its April 28 meeting. The premium, measured by the spread between USD/JPY risk reversals, touched 2.03 percentage points today, matching the widest since January that was a four-year high.

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