traders buffeted by a swath of centralbank decisions last week are preparing for further volatility amid signs that a new era for monetary policy is emerging the us dollar euro and yen will all be in focus when markets reopen at 5 am in sydney on monday as investors continue to weigh whether rate hikes from the federal reserve and european central bank mark the end of their tightening cycles even as the bank of japan modifies its ultraeasy regime with a looser grip on bond yields the australian dollar and british pound will also be in the spotlight with their central banks slated to meet on tuesday and thursday respectively and key reports on us manufacturing and jobs further complicate the trading environment “the price action around the centralbank rate decisions has led to a spike in volatility” around euro and yen said paresh upadhyaya director of currency strategy at amundi asset management the big moves are a result of “a change in the forward guidance to datadependent and meeting by meeting” he said adding “i would expect that the rba and the bank of england will also follow that path” it was certainly a wild end to the week the yen soared ahead of the boj’s friday meeting on reports that policymakers would discuss tweaking their yieldcurve control policies and then whipsawed when they did the currency traded in its widest daily range since april before ultimately closing the day down 12 meanwhile the euro tumbled as much as 11 on thursday the most since march as ecb president christine lagarde stressed that future data releases will determine rate moves while painting a grim picture of europe’s dual growth and inflation challenges even the relatively muted message from the fed also emphasizing a datadependent path forward saw a bloomberg gauge of the dollar decline the most in almost two weeks “the thing that strikes me perhaps most is that despite some very strong moves overall in fx i’m not sure people have much confidence in their staying power” said shaun osborne chief foreignexchange strategist at scotiabank