The Japanese currency fell sharply Tuesday, on track for its weakest close versus the U.S. dollar in 33 years, after the Bank of Japan took another baby step toward abandoning its controversial policy of yield-curve control.
The BOJ at its policy meeting effectively loosened its cap on long-term bond yields, saying that its previous 1% limit on the 10-year Japanese government bond BX:TMBMKJP-10Y would now serve as a “reference point.”
Traders,…
Read the full article here