Yen soars to 4-month peak after surprise BOJ policy tweak

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Reuters UK

By Kevin Buckland TOKYO (Reuters) – The yen surged against the dollar on Tuesday after the Bank of Japan said it would review its yield curve control policy and widened the trading band for the 10-year government bond yield in an unexpected tweak. While it kept broad policy settings unchanged – pinning short-term JGB yields at -0.1% and the 10-year yield around zero – it widened the allowable band for long-term yields to 50 basis points either side of that, from 25 basis points previously. The dollar tumbled as much as 2.78% to 133.11 yen, a level last seen on Aug. 16, before last trading 2.62…

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