TOKYO -- The currency market is being compared to a hissing volcano ahead of a two-day meeting of Bank of Japan board members who have stubbornly kept the central bank's policy rate at less than zero while their peers around the world fight inflation by aggressively raising interest rates.
In the spotlight is the Japanese yen, which has spent the past month in a tight range between 148-150 to the dollar, just shy of a 33-year low of 151.90. Depending on what it decides at the meeting, which starts on Monday, the BOJ could cause the yen to swing or trigger a yen-supporting intervention by the Ministry of Finance.
