TOKYO—Japan’s wholesale inflation remained near record-high levels in March as the Ukraine crisis and a weak yen pushed up fuel and raw material costs, data showed on Tuesday, adding strains to the resource-poor economy heavily reliant on imports. While rising wholesale prices will help accelerate consumer inflation toward the central bank’s elusive 2 percent target,…
Japan’s Wholesale Inflation Stays Near Record on Ukraine War, Weak Yen
April 13, 2022
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BOJ Ramps up Battle to Defend Yield Cap Even as Weakening Yen Raises Economic Risk
TOKYO—The Bank of Japan kept up its relentless quest to defend a key yield cap by offering to buy unlimited amounts of 10-year government bonds on Tuesday, underscoring its resolve to keep policy ultra-loose and putting downward pressure on the yen. The BOJ’s intervention raised the stakes for policymakers in the world’s third-largest economy as…
Yen at 6-year Low Versus Dollar as BOJ Moves Against Rising Bond Yields
NEW YORK—The dollar surged to a six-year high versus the yen after the Bank of Japan moved to contain rising bond yields, while U.S. Treasury yields soared to new multiyear highs, highlighting the divergence in tightening cycles between the BOJ and other major central banks. Treasury 10-year yields vaulted above 2.5 percent to three-year highs,…
Japan’s Finance Minister Calls for ‘Stable’ Moves as Yen Weakens
TOKYO—Japan will closely watch exchange-rate moves as market stability was “very important,” Finance Minister Shunichi Suzuki said on Tuesday in the wake of the yen’s decline to a five-year low against the dollar. While Tokyo policymakers have traditionally favored a weak yen for the boost it gives to exports, the sliding yen has become a…
Dollar at Six-Day High After U.S. Yields Jump; Yen Steadies
LONDON—The dollar hit a six-day high in early trading on Tuesday following a jump in U.S. Treasury yields, while the yen steadied after the Bank of Japan saying it would stick to its ultra-loose monetary policy caused the currency to slip versus the dollar. The U.S. Federal Reserve meets next week. It is expected to…
Japan Warns of Need for Currency Stability as Yen Falls Persist
TOKYO–Japan’s Finance Minister Shunichi Suzuki stressed on Friday the need for currency stability and said he was watching market moves “carefully,” in the wake of the yen’s recent declines against the dollar. Domestic media and some market participants have warned of the potential demerits of a weak yen, which pushes up import prices and households’…
Risk Appetite Sends Yen to One-Month Low, Euro Dips
LONDON—The euro fell in thin holiday trading on Wednesday and the dollar sent the yen to a one-month low, as investors looked past surging cases of Omicron in another bout of risk appetite. Risk-sensitive currencies such as the Australian dollar were higher as stocks motored upwards but the euro bucked the trend and weakened 0.2…
BOJ’s Kuroda Warns Weak Yen Hurting Households More Than Before
December 23, 2021
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TOKYO—A weak yen may be hurting Japanese households more than in the past, as the country’s increasing reliance on more expensive raw material imports pushes up the cost of living, Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Thursday. Kuroda’s remarks are the most direct acknowledgment to date of the potential disadvantages of a…
Japanese Yen Jumps While Dollar Dives on Pessimistic Vaccine Outlook
The Japanese yen jumped toward 113 against the U.S. dollar on Tuesday while the greenback slid against its rivals after Moderna CEO Stephane Bancel said COVID-19 vaccines are unlikely to be as effective against the Omicron variant of the CCP virus as they have been with other types. In an interview published on Tuesday, Bancel said he predicts…
Euro Hovers Ahead of ECB Meeting, Yen Looks Past BOJ Doves
October 28, 2021
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LONDON—The euro dipped below $1.16 ahead of the European Central Bank meeting on Thursday as investors wait to hear policymakers’ views on the outlook for inflation and an expected push back against rising interest rate projections. On a busy day for central bank-driven activity, the Australian dollar dipped on growing speculation about the Reserve Bank…
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