Yen Traders Game Plan for Nail-Biting Run Into BOJ Decision
- Investors to navigate tricky period, with risks piling up
- Focus on key currency levels that may trigger intervention
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Currency traders face a long and nail-biting wait this month until the Bank of Japan’s policy decision on July 31, when a potential interest-rate hike and cut to bond purchases may finally bring some relief to the embattled yen.
It’s plumbed new lows versus the dollar four times since late June, piling pressure on authorities in Tokyo to wade back into the market to stem the losses. Potential trigger points for sharp moves and official intervention abound, from the drum roll of economic data to political turmoil that’s struck Europe and the US.