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Yen Soars on BOJ as Asian Stocks Sink With European Futures, Oil

Posted by Chris Advincula on Jun 16, 2016 3:27:33 AM

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(Jun 16 Bloomberg) The yen soared and Japanese stocks tumbled after the nation's central bank refrained from easing monetary policy. Shares elsewhere in Asia dropped with European equity futures as oil fell for a sixth day, while haven assets including gold and sovereign bonds advanced.

Japan's currency strengthened past 105 per dollar for the first time since September 2014 and the Topix slid to a four-month low. The MSCI Asia Pacific excluding Japan dropped to its lowest in three weeks as U.S. crude slipped below $48 a barrel. Gold climbed for a seventh day and 10-year bond yields sank to records in Australia, Japan and South Korea. The greenback extended Wednesday's slide after the number of Federal Reserve officials who see just a single rate hike this year rose to six, from one in March.

Click on the link below to see the full story from Bloomberg: (by James Regan and Yuko Takeo)

Yen Soars on BOJ as Asian Stocks Sink With European Futures, Oil

 

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Topics: BOJ, Forex Trading, USD/JPY, Fundamentals, BOJ. Fed, BOJ Monetary Policy

 

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