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Yen surges as BOJ policy under pressure, dollar edges up

Mount Equity Group Tokyo Japan > News > Markets > Yen surges as BOJ policy under pressure, dollar edges up
  • Yen up around 3% against dollar across two sessions
  • Speculation mounts BOJ could revise monetary policy
  • Dollar index hovers around multi-month low

LONDON, Jan 13 (Reuters) – The yen surged further on speculation that Japan could revise its ultra-loose monetary policy, while the dollar edged higher after earlier dipping to its lowest level since June against major currencies.

The dollar index, which measures the safe haven U.S currency against other six major currencies, gained 0.3% to 102.46 as risk appetite faded through the trading session, with mixed U.S. company earnings also setting the tone for markets.

Better-than-expected economic data out of Germany and Britain suggested both countries could escape a recession – at least for now – but the news failed to provide a lasting boost to either the euro or sterling.

The euro was last down 0.4% at $1.08130, easing off a fresh nine-month high earlier in the session. Sterling was last…

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