Posted 10/23/2023, 4:30:00 AM
Yen Slumps Near Multi-Decade Lows Against Dollar Ahead of BOJ Meeting
- Japanese Yen near lows against US Dollar, with USD/JPY above 150
- Speculation that Bank of Japan may adjust yield curve control program to support Yen
- US Treasury yields remain high after small pullback, with Fed meeting ahead
- If USD/JPY breaks above 150 decisively, it may test 33-year high of 151.95
- Bank of Japan intervention possible if Yen weakness accelerates, but more effective with policy support
