The Japanese yen fell sharply against major crosses on Wednesday after the Bank of Japan said it would keep its deposit rate unchanged at minus 0.1%, and tweak its policy framework. Stepping up its battle against deflation, the central bank said it would start targeting 10-year interest rates, committing to keep them around zero, and continue quantitative easing until inflation “exceeds” 2%. Against the dollar , the yen slid to ¥102.49 from ¥101.74 late Tuesday in New York. The yen fell 0.9% against the euro at ¥114.31 and around the same amount against the British pound at ¥133.09. The Nikkei 225 index climbed 1.5% to 16,746 as the yen tumbled.
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From:: Stock Market News