Japan s yen, long favoured as a safe-haven and funding currency, has in recent weeks become so enmeshed in market speculation over central bank policy that Wednesday s decision to retain the status
Bank of Japan leaves monetary policy unchanged albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
"The market obviously wants to believe that tinkering with the yield curve cap is not once and done," Moh Siong Sim, currency strategist at Bank of Singapore, adding that the market was looking for further signals that there would be more tweaks to the yield curve control settings. Investor attention this week is fixed on the minutes of the Fed's December policymaking meeting, which are due to be released on Wednesday, with traders looking for clues to what rate path is likely to be taken in 2023.
SINGAPORE The yen spiked to a seven-month high against the U.S. dollar on Tuesday on rising expectations that the Bank of Japan might move away from its ultra-easy monetary policy.