Central Banks
Yen Retreats After Report Amamiya Approached to Become BOJ Chief
- Nikkei report refuted by Japanese government officials
- Amamiya seen as closest to a continuity candidate by investors
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The yen fell on the back of a Nikkei report that the Japanese government approached Bank of Japan Deputy Governor Masayoshi Amamiya about succeeding Haruhiko Kuroda at the helm of the central bank.
The Japanese currency declined as much as 1% against the dollar on speculation that Japan’s ultra-easy monetary policy will endure if Amamiya, who has been instrumental in formulating the large-scale stimulus programs, is the next successor. In London trade, it trimmed losses to trade around 132.11.