Economics
Yen Posts Strongest Week Since July as Goldman Remains a Bear
- Japan’s currency has risen in spite of BOJ’s policy tweaks
- Dollar undermined since Fed refrained from raising rates
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The yen posted its biggest weekly rally since July as traders speculated the Bank of Japan lacks the ammunition to successfully implement its tweaks to monetary policy.
There were dissenters, with Goldman Sachs Group Inc. sticking to its view for declines in the Japanese currency. Yet the yen touched the strongest level in a month this week as the BOJ announced Wednesday it would target the shape of the Japanese government bond yield curve rather than focus on expanding the money supply.