The yen surges against the dollar after the Bank of Japan sets the stage for ending its era of ultracheap borrowing

Dec 20 2022 by Business Insider

 
The yen surged against the dollar Tuesday after the Bank of Japan announced it'd widen its bond yield targets.

REUTERS/Yuya Shino

The Japanese yen rose over 3% against the US dollar Tuesday after the Bank of Japan surprised markets. The central bank lifted its cap on 10-year bond yields, allowing long-term interest rates to rise more. That could radically change the 2023 outlook for the underperforming yen, a strategist said.

The Japanese yen surged against the dollar Tuesday after the Bank of...

Continue Reading The yen surges against the dollar after the Bank of Japan sets the stage for ending its era of ultracheap borrowing