In the foreign exchange market on the 27th, the yen surged against the dollar. Yields soared after Nihon Keizai Shimbun reported that the Bank of Japan will discuss revisions to yield curve control (YCC) at its monetary policy meeting to be held on the 28th.
Bank of Japan to Discuss YCC Amendments, Proposal to Exceed Upper Limit of 0.5% – Report
As of 1:27 pm New York time, the yen rose 0.3% against the dollar to 139.78. At one point, it rose 0.6% to 139.38 yen.
Prior to the Nikkei report, the dollar was being bought in response to the Gross Domestic Product (GDP) statistics of the United States.
U.S. GDP Unexpectedly Accelerates to 2.4% Growth-Private Consumption Did Not Decelerate as Expected (2)
Original title: Yen Rebounds After Nikkie Report on BOJ’s Policy Meeting (excerpt)
2023-07-27 17:35:00
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