Weak Yen & Yuan. Mighty Dollar.

The Bank of Japan (BOJ) is an outlier. While all the other major central banks are turning more hawkish, the BOJ remains extremely dovish. This is causing the yen to dive.

Last week, the BOJ reiterated its ultra-easy monetary policy with four days of unscheduled bond buying as Japan’s widening interest-rate gap with the US put upward pressure on bond yields and weakened the yen.