Yen hits in 3-week low, after BOJ decision

Japanese yen fell again to its lowest level in three weeks today, Tuesday, at a time when traders were assessing the steps announced by the Bank of Japan last week to adjust the yield curve control policy, while the Australian dollar fell before the decision of the Reserve Bank of Australia on interest rates.

According to Reuters, the yen has embarked on a perilous journey since Friday, when the Bank of Japan took another step towards a slow shift away from decades of massive monetary stimulus, saying it would offer to buy Japanese government bonds for ten years at a yield of 1.0% in operations. With a fixed return instead of the previous return of 0.5%

The Japanese currency touched its lowest level at 142.80 yen per dollar. In the latest trading, it reached 142.66 yen against the dollar, down 0.26%. The benchmark 10-year Japanese government bond yield rose on Monday to a nine-year high, prompting the central bank to carry out additional purchases to cap its rally.

The dollar index futures, which measures the performance of the US currency against a basket of currencies, rose 0.059% to 101.93 points, approaching a new peak in three weeks. The index fell 1% in July

Meanwhile, the pound sterling was last traded at $1.2827, down 0.08% on the day after rising 1.1% in July.

The euro fell 0.06% to $1.0986, while the New Zealand dollar fell 0.14% to $0.620.