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Yen steams ahead as BOJ taper talk gathers momentum


Wednesday, 10 January 2018 17:06 WIB

DOLLAR YenDolar AS


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The U.S. dollar skidded further to a six-week low against the Japanese yen on Wednesday after the Bank of Japan’s move to trim its government bond (JGB) purchases in the previous session stoked speculation it would ease its massive monetary stimulus.

The dollar slipped as much as 0.7 percent to 111.765, its lowest since Dec. 1, after Tuesday's 0.5 percent fall when Japan's central bank reduced the amount of its JGB purchases in its regular buying operations -- a slight tweak to policy.

There was no further news on Wednesday but analysts put the extended sell-off down to traders betting that the bank could be poised to begin winding down its stimulus.

The yen was also up against other currencies including the euro, against which it gained 0.5 percent.

Source: Reuters


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