Fruit-Baring Policy Change Urged From the BOJ
Just when the world is most craving clarity on the future of Japan’s monetary policy, currency markets show it has become particularly hard to predict. With so little consensus on what Bank of Japan Governor Haruhiko Kuroda will come up with for the Sept. 21 policy decision, Eaton Vance Corp. and a unit of Bank of New York Mellon Corp. are abstaining from any positions in the yen, while JPMorgan Chase & Co. says some investors have closed out bets on declines in the dollar versus the yen. The Federal Reserve will decide on interest rates just hours after the BOJ’s meeting, adding to the quandary about the yen’s direction. UBS Head of U.K. Rates Strategy John Wraith discusses the outlook for the BOJ and the Fed with Bloomberg's Francine Lacqua on "The Pulse."