Dollar climbs, yen surges to 7-month high before Fed and BOJ decisions

In the days before two of the world's most consequential monetary decisions, currency markets have entered a state of suspended anticipation — the dollar climbing with quiet resolve while the yen surges to its strongest position in seven months. These seemingly contradictory movements are, in fact, two faces of the same reckoning: a global repricing of risk as traders confront the possibility that the long era of cheap yen and American rate dominance may be entering a new chapter. The Federal Reserve and Bank of Japan, meeting within days of each other, hold the power to either confirm or diss