BOJ

THE yen surged to a four-month peak against the dollar on Tuesday (Dec 20) after the Bank of Japan stunned markets by deciding to review its yield curve ...

Japanese central bank's change to controversial yield curve control triggers sell-off in sovereign debt.

For cost savings, you can change your plan at any time online in the “Settings & Account” section. Compare Standard and Premium Digital For a full comparison of Standard and Premium Digital,

Global markets were jolted overnight after Japan unexpectedly raised the cap on 10-year Japanese government bond yields, sparking a sell-off in bonds and ...

Treasury yields spiked](https://www.cnbc.com/2022/12/20/treasury-yields-rise-as-japan-unexpectedly-loosens-its-yield-cap.html), with the [10-year note](/quotes/US10Y/) climbing by around 7 basis points to just below 3.66% and the [30-year bond](/quotes/US30Y/) rising by more than 8 basis points to 3.7078%. [Stoxx 600](/quotes/.STOXX/) shedding 1% in early trade before recovering most of its losses by late morning. European government bonds also sold off, with [Germany's 10-year bund yield](/quotes/DE10Y-DE/) up almost 7 basis points to trade at 2.2640%, having slipped from its earlier highs. It's a tweak," he said. In contrast, other central banks around the world are continuing to hike rates and tighten monetary policy aggressively in an effort to rein in sky-high inflation. By midafternoon in Europe, the U.S. Japan's [Nikkei 225](/quotes/.N225/) closed down 2.5% on Tuesday afternoon. The yen's rally saw the currency notch the biggest single-day gain against the U.S. In a policy statement, the BOJ said the move was intended to "improve market functioning and encourage a smoother formation of the entire yield curve, while maintaining accommodative financial conditions." [yen](/quotes/JPY=/) and bond yields around the world to rise, while stocks in Asia-Pacific tanked. - In its policy statement, the BOJ said the move is intended to "improve market functioning and encourage a smoother formation of the entire yield curve, while maintaining accommodative financial conditions." [10-year ](/quotes/JP10Y-JP/)Japanese government bond (JGB) to move 50 basis points either side of its 0% target, up from 25 basis points previously, in a move aimed at cushioning the effects of protracted monetary stimulus measures.

The yen surged to a four-month high against the U.S. dollar on Tuesday after the Bank of Japan stunned markets with a surprise tweak to its bond yield ...

With investors taking a dim view of riskier assets, the Australian dollar , seen as a liquid proxy for risk appetite, fell 0.27% to a new 1-month low given the sheer size of the dollar-yen market, that should migrate to other currencies as well," CIBC's Rai said. Treasury yields higher as well, with the 10-year soaring to the highest this month at 3.711%. He reiterated it was too early to discuss an exit from stimulus. The U.S. The 10-year JGB yield jumped to 0.46% from the previous cap at 0.25%. 12 at 160.34 yen. Federal Reserve is close to being done with its dollar-boosting jumbo interest rate hikes. dollar on Tuesday after the Bank of Japan On Tuesday, the yen's gains were broad, with the euro tumbling as much as 3.5% to the lowest since late September at 140.17 yen and sterling also sliding as much as 3.7% to the lowest since Oct. Register for free to Reuters and know the full story The hit to the dollar comes at a time when the currency has been in retreat after big gains for the year as investors grow increasingly convinced that the U.S.

The Bank of Japan has sprung a surprise on traders again, as Governor Haruhiko Kuroda hit markets with a hawkish pivot very few saw coming.

The change blindsided investors, just like Kuroda’s move to boost bond purchases in 2014 and Japan’s festive season rate hike in 1989. [widen](https://www.bloomberg.com/news/articles/2022-12-20/kuroda-shocks-by-tweaking-boj-s-yield-cap-sparking-yen-jump) the trading band on 10-year bond yields triggered a jump in the yen and roiled global [markets](https://www.bloomberg.com/news/articles/2022-12-20/yen-jumps-dollar-sinks-after-boj-surprises-with-policy-tweak). BOJ Governor Haruhiko Kuroda’s decision to

Bank of Japan Governor Haruhiko Kuroda shocked global markets by adjusting the central bank's yield curve control program.

"In theory, it's not a tightening in monetary policy as the yield target is still zero and the BOJ says it will step up bond buying," said Shane Oliver, head of investment strategy at AMP Services in Sydney. Speculation of a shift had jolted markets on Monday after Kyodo news reported that Prime Minister Fumio Kishida was planning to revise a decade-old accord with the BOJ on the 2% inflation goal. This will be more bearish for the long end of U.S. The yen strengthened as much as 3.6% to 132 per dollar. The turbulence is unlikely to end on Tuesday. The BOJ will now allow Japan's 10-year bond yields to rise to around 0.5%, up from the previous upper limit of 0.25% on its movement range, according to its policy statement Tuesday. Japan's benchmark 10-year yield jumped as much as 21 basis points to 0.46% before dropping back to 0.4% after the BOJ also announced unscheduled debt-purchase operations. Japanese government bonds and Treasuries both slumped, while the yen surged after the BOJ raised its cap on benchmark 10-year yields to around 0.5% from 0.25%, surprising every economist surveyed by Bloomberg. The Swiss bank's asset management arm, as well as "This was bound to happen with inflation rising in Japan, it's just happened sooner than many thought," said Amir Anvarzadeh, an analyst at Asymmetric Advisors in Singapore, who has tracked Japanese markets for three decades. Japan is the world's largest creditor, and tightening domestic financial conditions may result in a wave of capital returning home. It also said it would "significantly" increase its bond purchases to ¥9 trillion ($67.5 billion) per month compared with the currently planned ¥7.3 trillion.

A look at the day ahead in Asian markets from Jamie McGeever.In many ways, the Bank of Japan's bolt from the blue on Tuesday was the perfect bookend to what ...

As Washington-based consultant and former World Bank economist Philip Suttle notes, Kuroda can justifiably claim to have ended deflation. An effective doubling of Japan's long-term risk-free rate to 0.50 per cent will turn some domestic investors' heads. Yet investors will surely be forced to rethink their 2023 strategies. Although the MSCI Asia ex-Japan index fell and yields on U.S. Advertisement

The Bank of Japan's next move could be removing the negative interest rate after its surprise widening of the Japanese government bond yield band, ...

The yen hovered around a four-month high against the dollar on Wednesday as traders contemplated the shock move by the Bank of Japan to adjust its bond ...

NZ Dollar/Dollar Aussie/Dollar Dollar/Canadian The Antipodean currencies were wobbly after suffering big losses against the yen as rising Japanese yields threatened to kill flows into usually crowded carry trades. Sterling/Dollar The index is heading for its Dollar/Swiss Junichi Inoue, head of Japanese equities at Janus Henderson Investors, said there was likely to be some volatility for the short term. Dollar/Yen Euro/Dollar Euro/Yen

NEW YORK -- Japan's currency on Tuesday touched its strongest level against the dollar since early August as investors saw the Bank of Japan's looseni.

It later slipped to around 131.10. NEW YORK -- Japan's currency on Tuesday touched its strongest level against the dollar since early August as investors saw the Bank of Japan's loosening of its cap on interest rates as a sign of change in a nearly decadelong policy of ultraeasy money. The yen reached 130.66 to the dollar during New York trading, up 3.5% from a day earlier, as momentum continued from the Tokyo session.

SINGAPORE : The yen eased a bit on Wednesday but held on to most of its overnight gains against the dollar as traders contemplated the shock Tuesday move by ...

The Antipodean currencies were wobbly after suffering big losses against the yen as rising Japanese yields threatened to kill flows into usually crowded carry trades. The index is heading for its biggest quarterly loss in nearly 12 years. Junichi Inoue, head of Japanese equities at Janus Henderson Investors, said there was likely to be some volatility for the short term. Advertisement

The yen hovered around a four-month high against the dollar on Wednesday as traders contemplated the shock move by the Bank of Japan.

Global investors have been The The yen hovered around a four-month high against the dollar on Wednesday as traders contemplated the shock move by the Bank of Japan to adjust its bond yield control program and potentially open the door to move away from its ultra-easy monetary policy. [yen](/quotes/JPY=/) weakened 0.26% versus the greenback at 132.06 per dollar early on Wednesday, but stayed not far off its four month high of 130.58 per dollar it touched on Tuesday as it spiked 3.8% higher. - The yen hovered around a four-month high against the dollar on Wednesday as traders contemplated the shock move by the Bank of Japan to adjust its bond yield control program and potentially open the door to move away from its ultra-easy monetary policy. - Japanese yen weakened 0.26% versus the greenback at 132.06 per dollar early on Wednesday, but stayed not far off its four month high of 130.58 per dollar it touched on Tuesday as it spiked 3.8% higher.

Bank of Japan Governor Haruhiko Kuroda is facing mounting criticism over his latest shock policy decision, with several prominent economists calling it a ...

The BOJ shocked markets on Tuesday with a surprise tweak to bond yield control, allowing long-term interest rates to rise more.

Against a basket of major currencies, the US currency is heading for its biggest quarterly loss since late 2010. Against the Singapore dollar, the US unit was relatively unchanged on Wednesday. The Japanese central bank’s move will likely reduce demand for US Treasuries, analysts said. “The rate hikes are going to get smaller and smaller and, eventually, there will be nothing and that will be the end of that story.” JPMorgan credit strategists Eric Beinstein and Nathaniel Rosenbaum said: “The question will now centre on whether the market believes the BOJ that this is simply a technical adjustment or the beginning of a more profound hawkish pivot. As other central banks, from the Bank of England to the European Central Bank and the Reserve Bank of Australia, have raised their own rates, dollar bulls have run out of puff.