ML-Implode News - Yen Traders Paralyzed as Central Banks Become Guessing Game

With so little consensus on what Bank of Japan Governor Haruhiko Kuroda will come up with for the Sept. 21 policy decision, Eaton Vance Corp. and a unit of Bank of New York Mellon Corp. are abstaining from any positions in the yen, whileÂ JPMorgan Chase & Co. says some investors have closed out bets on declines in the dollar versus the Asian currency. Such is the consternation that the options premium on contracts to buy the yen in a month's time disappeared for the first time since November, before reversing course this week.
...
"There is an expectation that the BOJ might do something, but the problem is the market is mixed on what that might be or whether it's something new that we haven't even seen yet," said Laura Fitzsimmons, Sydney-based vice president for rates and foreign-exchange sales at JPMorgan, the world's second-largest currency trader. "Dollar-yen, if anything, probably has a slight bias higher still from these levels."

Relevant:

Yen Traders Paralyzed as Central Banks Become Guessing Game