- The yen surged to a seven-month high (dollar/yen around 154.4) as traders bet on faster BOJ tightening, repatriation of Japanese funds and unwinding of carry trades.
- Friday’s U.S. CPI report is the big market mover this week — a hot print would boost chances of a Fed hike and a stronger dollar, a cool print would do the opposite.
- The ECB is widely expected to raise rates on Thursday, adding to global rate-tightening talk as the dollar softens versus the euro and pound.
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