Economics
Yen Surges to Strongest Since August 2014 as BOJ Holds Fire
- Japan’s currency gains versus all of its 31 major peers
- Yen is best currency in June as Brexit risk spurs haven demand
Japanese 10,000 yen banknotes are arranged for a photograph in Tokyo, .
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The yen climbed to its strongest level against the dollar since August 2014 after the Bank of Japan refrained from adding any stimulus that could slow its advance.
Japan’s currency gained versus all of its 31 major peers after Governor Haruhiko Kuroda and his board opted to continue to gauge the economic impact of their negative interest-rate policy ahead of an election next month. The yen is the best-performing currency globally in June as concern the U.K. will vote next week to leave the European Union fueled demand for haven assets.