The Japanese yen dropped past 158 against the US dollar after traders lowered expectations for another Bank of Japan (BOJ) rate hike in October. This decline keeps yen-funded carry trades attractive since borrowing costs remain low, but it raises the risk of a sudden yen rebound that could force leveraged traders to close positions, impacting global markets including Bitcoin and crypto. While the BOJ has raised rates recently, further tightening or currency intervention could pressure carry trades. Investors remain cautious as Japan's rising bond yields and potential policy moves could disrupt the current carry trade environment.
The Japanese yen and its carry trade dynamics provide context for this market snapshot. For readers following cryptocurrency markets, here is Pluang's market data as of Oct 01, 2026 13:31 WIB: Out of 50 major cryptocurrencies, 40 rose and 9 fell today. Notable performers include DOT at Rp22.284 (+4.09%), COTI at Rp240 (+3.38%), and VET at Rp163 (+3.29%).
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