Market crossroads would be the yen to depreciate when BoJ does not easefurther, strengthen when it does.The BoJ is holding a Monetary Policy Meeting on 21-22nd January. Many marketparticipants expect the Bank to maintain its policy at this meeting and move to easefurther in Apr-Jun. The view is that the BoJ is likely to ease further to stimulate theeconomy following the consumption tax hike in April or to further heighten inflationexpectations as it reviews the year of QQE.
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