Forexeconomic News News

"Yen Rallies as Traders Anticipate End of Negative BOJ Rates"

The Japanese yen surged against major currencies after BOJ governor Ueda hinted at a potential policy exit in March or April next year, aligning with Tokyo's stance on scaling back ultra easy policy settings. USD/JPY dropped to a low of 144.55 before recovering slightly. Other currencies remained relatively unchanged, while equities were cautious ahead of the US jobs report and bond yields rose, driven by a surge in Japanese bond yields.