12/20/2022, 7:11 AM (Source: TeleTrader)
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Yen jumps after BoJ changes bond yield target range

The Japanese yen soared over 3% against the United States dollar on Tuesday after the Bank of Japan announced changes to its yield curve control plan. Japan's central bank will now allow the 10-year government bond yield to move in a range of plus and minus 0.5 percentage points as opposed to a range of plus and minus 0.25 percentage points that was in place earlier.

The BoJ also revealed it will expand its bond-buying program from ¥7.3 trillion per month to about ¥9 trillion per month. The American currency lost 3.03% compared to the yen, trading at 132.887 at 7:18 am CET, landing at a four-month low moments earlier.

Baha Breaking News (BBN) / MS