Yen at Strongest in 17 Months Probing Limit of Japan's Tolerance
- More jawboning would be `meaningless,' JPMorgan's Sasaki says
- BOJ's next policy meeting is scheduled for April 27-28
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Foreign-exchange traders are challenging Japanese policy makers’ tolerance for a stronger yen as the currency climbed to a level unseen for 17 months.
The yen briefly pushed through 110 per dollar on Tuesday to the highest since Bank of Japan Governor Haruhiko Kuroda boosted monetary easing in October 2014, and a level that some strategists see as heightening the risk of intervention. Kuroda has said he’ll keep monitoring the currency and reiterated the potential for cutting interest rates further below zero. The next scheduled policy meeting is April 27-28.