BOJ emergency meeting likely if Brexit materializes

According to the Nikkei, the Bank of Japan is likely to arrange an emergency meeting should the UK vote to 'Leave' on June 23th. In the scenario of a Leave vote, USD/JPY is likely to trade sub 100.00, which would increase the probability of BOJ intervention.

As the Nikkei reports, quoting BOJ Gov. Haruhiko Kuroda, in comments made on June 16th: "We are always prepared to engage in additional monetary easing, but I will offer no comment regarding an unscheduled meeting." If USD/JPY were to break through 100.00 on a Leave outcome, "the BOJ likely won't wait for the regular meeting scheduled for July 28-29 and will opt to open a special meeting," said Kyohei Morita at Barclays Securities Japan, quoted via Nikkei.