Japanese yen draws renewed support

The Japanese yen is seeing renewed support as traders reassess the outlook for Bank of Japan policy and potential efforts to stabilize the currency.
Expectations for tighter monetary policy have already increased sensitivity around $JPY, particularly after recent moves raised the risk of an unwind in yen-funded carry trades.
Any further policy signal or intervention-related development could produce another sharp move in the currency and spill over into global rates and risk assets.