CoinMeta data: The US dollar against the Japanese yen broke through 156 yen after the Federal Reserve raised interest rates. Currently, the US interest rate is 3.75%-4%, while in Japan it is only 1%, widening the policy gap to 300 basis points. According to a Reuters survey, 97% of economists expect the Bank of Japan to raise interest rates to 1.25%, which would be the highest rate in 31 years. In August 2024, the unwind of yen arbitrage trades led to a global sell-off, with Bitcoin falling to around $49,000 and the Nikkei index dropping 12.4% in a single day. The Bank of Japan's decision will be announced on Friday.