Business & Finance
28 July 2023, 7:00 pm 1 minute
Reuters reviews the wild swings in the yen, which saw its most volatile trading day for months, and what this might mean.
Market Impact
The Japanese yen is on a bumpy path towards strengthening after Friday’s central bank policy change, threatening to upend the carry trade, one of this year’s most popular strategies, as the currency inevitably becomes more expensive. The BOJ kept its short-term interest rate target below zero, but shook markets by adjusting a policy that had effectively capped the 10-year government bond yield at 0.5%.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Countries: Japan
Win Types: Overall Coverage
Story Types: Special Report / Insight
Media Types: Text
Customer Impact: Significant National Story