Yen hovers near lows as investors eye BOJ's next move
The Japanese yen is hanging out near its lowest point in months—about 155.59 per US dollar—as everyone waits to see what the Bank of Japan (BOJ) will do next.
This has exporters, importers, and investors a bit on edge about currency risks.
Why does this matter?
A BOJ rate hike to 0.75% is almost certain, but the real action will be in Governor Kazuo Ueda's comments, which could shake up currency markets.
Since the BOJ might skip updating its neutral-rate forecast, traders are paying extra attention to what Ueda says at his press conference.
What's putting pressure on the yen?
People are worried because Japan hasn't tightened policy much despite rising inflation and wages at home, plus there are concerns about government finances.
Global moves—like mixed US inflation data and other central banks holding or cutting rates—are adding to the uncertainty around where the yen goes next.