Yen Gains Sideline Kuroda as Volatility Sweeps Rates Shock Aside
- Options protecting against yen gains cost most since 2010
- Morgan Stanley says verbal intervention now a possibility
Yen Matters Far Less Than Most Investors Think: CLSA
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Haruhiko Kuroda has a problem: traders are paying more attention to the volatility sweeping global markets than the Bank of Japan governor’s monetary easing.
The result is the yen has climbed against almost all of the more than 150 currencies tracked by Bloomberg since the central bank embraced negative interest rates on Jan. 29. The shock announcement, which initially weakened the yen, has been overwhelmed by investors pouring into Japan’s currency as a haven.