With the BOJ akready expected to be a far more exciting affair than either the Fed or BOE later this week (both of which will unveil no surprise), moments ago the yen spiked to a session high against the US dollar, and the highest since Oct 12, after Japan's Nikkei reported that the Bank of Japan may tweak its YCC again and allow long-term yields to rise above 1% as soon as its Tuesdays meeting. According to the Nikkei, which correctly warned just ahead of the last YCC tweak by the BOJ, after several YCC tweaks, the BOJ is once again realizing that it is trapped, and has to adjust its YCC more "potentially ... (full story)