Japanese bond and FX markets have grinded to a halt ahead of the Bank of Japan’s next rate decision, as the event has the potential to trigger the much fear carry trade unwind.

It's no surprise that currency pairs like AUD/JPY, GBP/JPY and EUR/JPY all rose in lockstep with US stocks, which did not begin to take off until the release of the Beige Book report.

Implied volatility is one of the most tried and true methods for objectively measuring expected volatility in the spot market.

Given the recent string of central bank surprises in the past month or so, one has to wonder whether or not the currency markets may be in for a doozey when Bank of Japan officials meet this week.

Despite spotty performance among the majors, the dollar was forging higher Wednesday morning with the aid of a strong consumer spending report. However, the greenback’s gains have been capped while the market waits for policy officials and politicians to deliver their respective reports.

Currency technical analyst Jamie Saettele analyzes the Australian dollar against the Canadian dollar, Japanese yen, and New Zealand dollar.

The Japanese yen price is just below resistance from the 100% extension.

Japanese Current Account surplus far surpassed expectations printing at 2,279 billion yen versus 1,948 billion expected.

Have you ever noticed that what you focus on mentally is what you get in end results?

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for June 13.