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- Japan Eco Min Goto jaw bones Yen following BoJ shock policy decision
Japan Eco Min Goto jaw bones Yen following BoJ shock policy decision
Japan economy minister Shigeyuki Goto acknowledges the Bank of Japan's decision on Tuesday was not meant to be a tweak or exit from monetary easing.
Bank of Japan shocked markets on Tuesday with a surprising tweak to its bond yield control. The BoJ has adjusted the terms around long-term interest rates, allowing them to rise more in a move aimed at easing some of the costs of prolonged monetary stimulus. As a result, the yen rallied around 5% higher vs. the USD. USD/JPY fell from a pre-BoJ high of 137.40 to a low of 130.56.
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