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Yen Volatility Following Bank of Japan Announcement

The yen experienced significant fluctuations in response to the Bank of Japan’s recent announcement regarding adjustments to its yield-curve control program. Initially, the Japanese currency suffered a decline of over 1% against the dollar. However, it later recovered and traded more than 0.7% higher, reaching around the 138.50 per dollar level. This announcement from the central bank came as a response to mounting pressure to modify the existing policy in light of increased inflation and improved wage growth in Japan. Consequently, Japan’s bond futures exhibited a retreat in the aftermath of the announcement.

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