A BOJ Rate Cut? That's Unlikely, Says Turner
Strategists forecasting the yen will post its first annual gain since 2011 are standing their ground in the face of a rout driven by speculation the Bank of Japan will expand record stimulus. The yen remains this year’s strongest major developed currency even after a 2.4 percent tumble this month following Ben S. Bernanke’s visit to Tokyo last week, which spurred speculation the BOJ would directly finance government debt -- a policy known as helicopter money. The yen climbed the most in almost a month on Thursday after BBC Radio 4 broadcast an interview with Governor Haruhiko Kuroda, that was recorded on June 17, in which he saidthere is no need and no possibility of introducing such a policy. ING Head of Foreign Exchange Strategy Chris Turner discusses with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin.
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