Japan is also making significant monetary changes because the Bank of Japan is indicating an increase in the interest rate. This is at a point of time when USD JPY is fast closing in 156 level putting the yen under pressure to the alarm of the world markets.
The Japanese increase in rate would signal a shift in the long time ultra-loose monetary policy. This development is being monitored keenly by the traders because a minor correction by the BOJ can have a powerful effect on the currency flows and risk sentiment.
As the yen has weakened and the market volatility has increased, the investors are setting themselves to move. Should the BOJ verify this rate increase, it would change the tide in the forex market, stocks and even the crypto market since liquidity levels will change.