Yen Gains After Bank of Japan Refrains From Adding to Stimulus
- BOJ's Kuroda says price trends rising, economy improving
- Dollar gauge little changed after August retail sales report
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The yen strengthened for a third day against the dollar after the Bank of Japan refrained from adding to its already unprecedented monetary stimulus at a policy meeting Tuesday.
Japan’s currency rose versus all of its major peers after BOJ Governor Haruhiko Kuroda kept his pledge to expand the monetary base at an annual pace of 80 trillion yen ($666 billion). Kuroda said inflation trends are rising and the economy will gradually recover, adding that the central bank won’t hesitate to ease policy, if necessary. A gauge of the dollar was little changed after a report showed U.S. retail sales rose for a second month before the Federal Reserve meets to consider the first interest-rate increase since 2006.