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Market Extra: Traders brace for dollar at ¥100 if Bank of Japan disappoints

Investors are trapped in an unbearable waiting game ahead of the Bank of Japan and Federal Reserve meetings, with currency traders in particular eyeing the Wednesday announcements with caution.

And for good reason—analysts are predicting a major shake-up in foreign exchange trade if the two central bank mastodons surprise the markets, which could send the yen USDJPY, +0.01% soaring again despite the Bank of Japan’s wishes.

The Japanese currency has already strengthened from ¥103.35 against the dollar a few days ago to ¥101.75 on Tuesday, but could rally to as high as ¥100 against the dollar if the BOJ fails to impress investors, analysts said.

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