MARKETS & FX
Yen Drifts in Mid-160s as Markets Hold Breath for BOJ
# yen# Tokyo FX# BOJ meeting# intervention
Key Points
- Yen traded narrowly in the mid-160 range in Tokyo
- Intervention wariness offsets pre-BOJ caution
- Real-demand flows dominate the directionless session
Analysis
The yen drifted in the mid-160s: intervention fear caps speculation while pre-BOJ caution provides a floor. Such calm rarely outlasts the catalyst — Monday's BOJ meeting is the fuse. Currency buyers should use the lull, not wait for it to end.