Business / Financial Markets Dec 22, 2022
Investors rush to update yen playbook after Bank of Japan’s surprise shift
The yen surged 4.8% on Tuesday after the BOJ blindsided the market by raising its cap on 10-year bond yields to 0.5% from 0.25%.
The yen surged 4.8% on Tuesday after the BOJ blindsided the market by raising its cap on 10-year bond yields to 0.5% from 0.25%.
One-week implied volatility in the dollar-yen has fallen to trade well below highs seen last month, even as the currency pair closes on ¥145.90 per dollar.
Investors growing increasingly bullish on the yen may have to re-examine their outlook if retail sales and industrial production figures due this week add to mounting evidence that the Japanese economy is slowing. The currency — the best performer among its Group of 10 peers ...