Economics
Yen Gains From 3-Week Low Before Bank of Japan Reviews Stimulus
- Japanese currency rises after falling most in 17 months
- May fall to 130 per dollar in a year, Goldman Sachs says
Yen Drops Most in 17-Months
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The yen climbed Monday from a three-week low against the dollar as traders assessed what degree of additional stimulus is expected from the Bank of Japan this week and the impact of any such easing on the currency.
The Japanese currency appreciated versus most of its major peers in New York, recovering from a 2.1 percent slump on April 22 after Bloomberg reported the authority may consider helping banks lend by offering a negative rate on some loans. The central bank will reveal its decision on April 28, a day after the Federal Reserve’s meeting.