Why Hasn't the Yen Resumed its Trend of Weakness?
Even after Haruhiko Kuroda arranged a record stimulus program and reduced a key interest rate to less than zero, markets are moving against the Bank of Japan governor, weighing on his goal of boosting inflation to 2 percent. Stocks are back to near the levels in October 2014, when Kuroda expanded asset purchases. The yen has strengthened more than 10 percent versus the dollar in 2016, making it the best performer among Group of 10 currencies amid demand for haven assets. State Street Global Markets Global Head of Macro Strategy Michael Metcalfe discusses with Bloomberg's Francine Lacqua on "The Pulse."