BOJ Expectations Reach Fever Pitch at Yen Trading Desks: Chart

Currency traders anticipate epic moves in the yen when Haruhiko Kuroda announces on Friday whether he and his board decided to maintain or increase the Bank of Japan’s unprecedented monetary stimulus. Speculation has built this month that the BOJ and the government will act after the yen surged to a 2 1/2-year high and inflation sagged. With no one sure which way the BOJ will jump, expectations for swings in the dollar-yen rate over one week surged the most since 1995 last Friday, and the difference between implied and realized volatility reached the widest since the 2008 financial crisis.

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