(Reuters) The Japanese yen rose to a five-month high on Tuesday on the back of broad-based selling of the dollar and speculation the Bank of Japan could be close to dialing back record levels of monetary stimulus.
This helps explain the move, even though there is not consensus that the BoJ will follow other central banks in gradually ending the era of easy money soon.
“I don’t buy it,” said John Doyle, vice president of dealing and trading at Monex Inc in Washington. “Last Friday we saw that (BoJ) Governor Kuroda will be reappointed for five more years, and that’s a signal to us that business will continue on as usual,” Doyle continued.
