Traders on Intervention Watch as Yen Hovers Near 150 to Dollar
- Overnight implied volatility climbs before BOJ policy decision
- Tokyo gathering to round out big week with Fed, BOE meetings
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Traders are on guard for any sharp move in the yen as it hovers near the 150 level to dollar that some analysts consider to be a trigger for intervention by Japan.
The market is on tenterhooks ahead of the Bank of Japan’s policy decision on Friday, awaiting more detail from Governor Kazuo Ueda on the outlook for negative interest rates and his view on the yen’s weakness.