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Yen Surges Most Since 2010 as BOJ Refrains From Adding Stimulus

  • Gain is biggest since day of `flash crash' in U.S. equities
  • Slight majority of economists had predicted some policy action
Bloomberg business news

BOJ Surprise: Kuroda's Act of Market Defiance?

Updated on

The yen surged by the most since 2010 after the Bank of Japan maintained its record stimulus, surprising traders who had expected additional easing and forcing them to exit bets on declines in the currency.

Japan’s currency rose against all of its 16 major peers as BOJ Governor Haruhiko Kuroda and his colleagues opted to refrain from more policy action and to take more time to assess the impact of their negative interest-rate program. A slight majority of economists surveyed by Bloomberg predicted the central bank would respond to a strengthening yen that’s cast a shadow over prospects for higher wages and investment.