Wells Fargo Recommends Selling the Yen Ahead of the Bank of Japan Decision

Wells Fargo recommended selling the yen against the U.S. dollar before the Bank of Japan makes its decision, saying it is unlikely to meet or exceed hawkish market expectations. According to Sina Finance, Chidu Narayanan, head of Asia-Pacific macro strategy, wrote in a report that the Bank of Japan would struggle to be more hawkish than the aggressive tightening path already priced in by the market, which implies a 25-basis-point rate hike at every other meeting through July 2027.