MUFG highlights that the Bank of Japan (BoJ) continues to signal potential rate hikes despite recent yen strength, with rising front-end yields expected to limit yen selling appetite.Key Points:BoJ's Stance: The BoJ has not shifted its monetary policy outlook despite recent market volatility and a significant drop in USD/JPY. Deputy Governor Himino reiterated that more rate hikes will be needed if economic conditions align with the BoJ’s forecasts.Market Reactions: The recent plunge in USD/JPY has not significantly altered the BoJ's messaging. The 2-year Japanese Government Bond (JGB) yield remains below its highs from earlier in the year, suggesting potential for further yield increases.Rat
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