🚨The dollar just surged past 156 yen after the Fed's rate hike. US rates are now 3.75%-4%, versus Japan's 1%, widening the policy gap to as much as 300 basis points. The BOJ is next, 97% of economists surveyed by Reuters expect a hike to 1.25%, which would be Japan's highest rate in 31 years. In August 2024, a yen carry trade unwind contributed to a global selloff where Bitcoin fell to around $49,000 and the Nikkei lost 12.4% in a single day. The BOJ decision lands Friday.