The yen strengthened against all its major peers amid concern the Bank of Japan is struggling to control the nation’s bond yields through monetary stimulus.
BOJ Governor Haruhiko Kuroda said yesterday the nation could cope with rising interest rates, after yields on Japanese government bonds rose for a third week. Bill Gross, who oversees the world’s biggest bond fund at Pacific Investment Management Co., said investors should watch Japan’s currency and bonds. The Australian dollar fell after China’s president signaled a tolerance for slower growth.
“We don’t think that yen weakness is completely done,” Callum Henderson, the Singapore-based head of currency research at Standard Chartered Plc, said in a Bloomberg Television interview on May 27. “But undoubtedly the momentum is fading due to the volatility in JGBs.”
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USD/JPY At 101 Amid Concern Kuroda Struggling To Cap JGB Yields
Published 05/27/2013, 02:37 AM
Updated 07/09/2023, 06:31 AM
USD/JPY At 101 Amid Concern Kuroda Struggling To Cap JGB Yields
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