The Bank of Japan raised its interest rate from -0.10% to 0.10% after 17 years, yet the yen's movement remains subdued. Retail anticipation is high amid historical parallels to Brexit crisis levels, with ongoing purchases of JGB bonds. Expectations point towards yen weakness, offering short opportunities around 195.500 or 197.000. Meanwhile, with the Bank of England considering rate cuts, GBP weakness may ensue, potentially strengthening the yen. Anticipations suggest a possible interest rate hike to 0.35% by the end of 2024.
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