the Bank of Japan and the Federal Reserve announced monetary policy decisions, of which the Bank of Japan announced a 25 basis point interest rate hike, while the Fed announced that the benchmark interest rate remained unchanged, but clearly released a signal of a high probability of interest rate cuts in September. The yen soared against the dollar, and the "carry trade" of borrowing cheap yen into the high-yield market came to an end. The Fed's clear interest rate cut signal provided a...
