The yen staged its biggest one-day rally in almost a year on Thursday after Japanese monetary authorities offered a surprisingly clear hint at a shift in policy, while the euro pared some losses from earlier in the week.
The yen’s 2.7% surge against the dollar – it had gained as much as 4% earlier – was its biggest in a year.
The five-year Japanese Government Bond yield recorded its biggest rise since the pandemic of almost 10 basis points.
Apart from that, here’s how other currencies performed today:
– The Bloomberg Dollar Spot Index fell 0.4%
– The euro was little changed
– The offshore yuan was little changed
– The Australian dollar fell 0.1%