Japan’s five-year bond yield rose to the highest level since April 2011 ahead of the Bank of Japan (BoJ) interest rate decision on Friday, per A Jiji.
Japan ’s five-year bond yield rose to the highestlevelsince April 2011 ahead of the Bank of Japan interest rate decision on Friday, per A Jiji. The yield advanced 2.5 basis points to 0.523% in the early Asian session on Friday. The Bank of Japan is expectedto leave its short-term rate target unchangedin the rangebetween 0% and 0.1% on Friday, following the conclusion of its two-daymonetary policyreview meeting for April. Market reaction At the time ofwriting,USD/JPYis trading 0.
The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The current BoJ ultra-loose monetary policy, based on massive stimulus to the economy, has caused the Yen to depreciate against its main currency peers.
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