The Bank of Japan has released large-scale interest rate hike rhetoric. Although this has triggered a wave of selling in Japanese bonds, the yen's exchange rate continues to fall relentlessly.

Last night, the US dollar slightly weakened, and almost all non-US currencies rose except for the yen. This is an extremely dangerous signal, indicating that the Bank of Japan is beginning to lose control over the exchange rate.

The yen is likely to transform from a major international currency into a worthless currency like that of Africa, and once this becomes a consensus, the yen will immediately turn into the Turkish lira.