not really well verse on non-US central bank policy, especially the crazy stuff BOJ does. I'm baffled how no one even mentioned this until Aug 1 or Aug 2, days after the news (Jul 30). The sell-off in anticipation of the news likely started weeks before. Yen Dollar peaked around Jul 9, so pretty close to the peak before this correction/pullback.
So any idea how far along the carry trade are we? BOJ also raised rates in mid March this year, and that was pretty close to the beginning of the peak in Mar/April. Is this just gonna come in waves and in a few months we have to worry about the yen carry trade again?
What's pretty frustrating to me is that Japan trading hours doesn't overlap with Europe/US trading hours. So if Japanese are selling stocks, there aren't a lot of dip buyers, leading to pretty huge gap downs overnight.
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