Yen Trades Close to 20-Month Low After BOJ; Euro Strengthens
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The yen traded at an almost 20-month low against the dollar after the Bank of Japan boosted monetary stimulus and agreed to review its 1 percent inflation target.
Japan’s currency has fallen against all its major counterparts this month as newly elected Prime Minister Shinzo Abe called for BOJ Governor Masaaki Shirakawa to double the inflation goal. The 17-nation euro was close to an eight-month high against the dollar as regional consumer confidence rose from a three and a half year low. Sweden’s krona was the biggest winner against the dollar and euro.