Posted 11/14/2023, 12:54:00 AM
Yen Sinks to Multi-Year Lows Against Dollar and Other Currencies Amid Dovish BOJ Policy
- Yen at multi-decade lows against dollar due to divergence between BOJ's ultra-easy policy and hawkish stances of other major central banks
- Yen also sank to 15-year low vs euro and 3-month low vs pound amid broad weakness
- Brief yen bounce attributed to option expiries, but seen lacking solid support
- Japan intervened to prop up yen in Sep and Oct 2022, but piecemeal BOJ policy tweaks have failed to lift currency
- Traders eyeing US CPI data for clarity on whether aggressive Fed rate hikes will continue, keeping dollar supported