Yen Slumps, Stocks Waver as BOJ Holds Steady on Negative Rates and Traders Assess Fed Easing Prospects
• The yen slumped after the Bank of Japan left its policy rate unchanged and appeared in no hurry to remove negative interest rates.
• Stocks and US futures wavered as traders assessed prospects for Federal Reserve easing.
• BOJ officials maintained the policy rate at -0.1%, but offered little guidance on when they would move away from the negative-rate policy.
• Treasury yields dipped, while a gauge for the dollar was steady after the rally in Treasuries took a breather amid efforts by Fed officials to rein in expectations for earlier and deeper-than-expected rates cuts.
• Oil traded near its highest close in two weeks as more companies shun the Red Sea after a spike in vessel attacks along the key shipping conduit.