In March, the Bank of Japan (BOJ) raised interest rates for the first time in 17 years. In an early April interview, Governor Ueda suggested that further weakness in the yen could trigger another rate hike, a statement that surprised the markets. However, no action was taken at the BOJ's April 25-26 meeting, and one of Governor Ueda's remarks was interpreted as meaning the yen’s weakness could be dismissed – worsening its slide. This sentiment prevailed until April 29, when the yen weakened to 160 against the dollar—the lowest in 34 years. Then, during Japan's Golden Week, the yen experienced two sudden rebounds on ... (full story)