The yen plunged on expectations of a Fed rate hike. The importance of the BOJ's monetary policy meeting has risen further, and views are emerging that the yen could return to ¥160 per dollar.
The yen plunged against the dollar following expectations of a hawkish rate hike by the Federal Reserve.
The importance of the Bank of Japan's monetary policy meeting, which runs through the 18th, has increased further.
Amid expectations of further yen weakness, views are gaining currency in the market that the exchange rate could return to ¥160 per dollar.
The move is being reported in the context of expectations for a Fed rate hike driving yen weakness.