BoJ Brews Rate Hike to Support Yen. Forecast as of 29.07.2024

A recent survey of Bloomberg experts revealed that only 30% anticipate a rate increase from the Bank of Japan in July. Most respondents expected a modest reduction in quantitative easing (QE). However, the evolving dynamics of inflation and wage rates are prompting the BoJ to consider more decisive action. Let's discuss this topic and make a trading plan for the USDJPY pair.Highlights and key points Hedge funds are buying the yen at the fastest pace since 2011. Experts and the derivatives market