Yen hits a 4 month high as Bank of Japan acts on yields

[MongiIG]

The Japanese yen climbed after the Bank of Japan surprised the markets decided to allow the 10-year bond yield to move 50 basis points on either side of its 0% target.

This is wider than the previous 25 basis point band. The move caught investors off-guard who hadn't expected any changes to the yield curve control until Governor Kuroda steps down in April. It came as the BoJ kept rates on hold at -0.1%.

 

 

 

 

 

BoJ