Word on the forex street is that the buck is in for some selling for month end
It's being noticed that following the FOMC flows have been moderate and liquidity has fallen. We have to BOJ to come so that might be the last hurrah before we see any real month flows. The jungle drums say that there could be some decent amounts of dollar selling for month end
USDJPY has been soaking up some decent selling pressure from Japanese offers at current levels today and there's still a high degree of uncertainty over the BOJ announcement, and that's likely to hit liquidity further later on
Remember that if you see some quick moves nearer the BOJ it doesn't mean there's anything untowards going on and it's more likely that traders are reducing or repositioning for the event
As always, we take the chatter with the appropriate pinch of salt
