Asian Session – Yen tumbles after BOJ eases monetary policy
April 4, 2013 7:14 am
The yen dropped sharply on Thursday after the Bank of Japan announced aggressive easing, saying it will double its holdings of bonds and stocks in two years.
The BOJ also said it would extend the average maturity of bonds it holds to around seven years from around three years now, dashing suspicions that it could underdeliver as it had often in the past.
The dollar jumped 1.2 percent to 94.21 yen pulling away from a one-month low of 92.57 hit on Tuesday, though it is still off a 3-1/2 year peak of 96.71 set a few weeks ago.
The yen dropped sharply on Thursday after the Bank of Japan announced aggressive easing, saying it will double its holdings of bonds and stocks in two years.
The BOJ also said it would extend the average maturity of bonds it holds to around seven years from around three years now, dashing suspicions that it could underdeliver as it had often in the past.
The dollar jumped 1.2 percent to 94.21 yen pulling away from a one-month low of 92.57 hit on Tuesday, though it is still off a 3-1/2 year peak of 96.71 set a few weeks ago.
Related Posts: