Yen Rallies Sharply on Reports BOJ to Mull Lifting Yield Cap
- Nikkei: Bank of Japan to discuss tweaking yield-curve control
- Yen jumps to strongest in nearly three weeks versus dollar
This article is for subscribers only.
The yen rose to its highest level in nearly three weeks on reports that the Bank of Japan may raise a cap on government bond yields as the central bank convenes for its policy meeting.
Policymakers are considering letting the yield on 10-year government bonds rise above 1%, Nikkei reported Monday, without identifying where it obtained the information. The yen, which had traded lower on the session prior to the news, immediately jumped roughly half a percent, before pushing to approximately 148.81 per dollar, its strongest intraday level since Oct. 11.