The yen strengthened against most of its 16 major counterparts after minutes from the Bank of Japan’s latest meeting showed one policy maker advocated restricting stimulus to a two-year period.
The Dollar Index slid to its lowest level in almost four months on speculation the Federal Reserve won’t raise lending rates even if it elects to taper bond-buying monetary stimulus.
The yen strengthened versus the dollar and euro as speculation intensifies about Federal Reserve’s path of monetary stimulus.
The currency market is experiencing a bout of deja vu, with the yen’s tumble to a 4 1/2-year low and the dollar’s rebound drawing resemblances to 1995.
Following is the text of the U.S. foreign exchange operations report.
The top foreign-exchange forecaster says the Japanese government’s current approach to reining in the yen by intervening in currency markets will fail.
Australia’s dollar fell toward the lowest in three years versus its New Zealand counterpart as traders bet the interest-rate gap between the two nations will narrow.
Citigroup Inc., the third-biggest U.S. bank, updated its corporate foreign-exchange electronic trading platform to help clients hedge currency-market exposure.
Australia’s government bonds rose, sending three-year yields to an 11-week low, as investors added to bets the central bank will cut interest rates.
Chandler Discusses Currenencies