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Yen Surges On BoJ YCC Shift

JPY

JPY has spiked higher post the BoJ policy announcement. The pair got back to the low 134.00 region before some buying interest emerged. At the time of writing we are around 134.25, still 2.0% higher for the session in yen terms. Yen bulls will eye month to date lows around 133.60/65 from Dec 2. The main shift from the BoJ is in terms of the yield curve control regime, with the upper limit for the 10yr yield raised to 0.50%.

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