That ski trip to Japan this winter might not be such good value. The yen strengthened sharply against the dollar after the decision and has held on to the gains.
With the world’s boldest experiment in loose-monetary policy possibly coming to an end, the yen posted its biggest one-day advance since 1998 Tuesday in Japan and remains elevated.
Bank of Japan Governor Haruhiko Kuroda stunned everyone before Christmas by widening the trading band on 10-year bond yields.What does Japan’s central bank have to do with your finances? If all the talk of central bank pivots and yield curve control has left you feeling a little perplexed, we’re here to help.
Japanese money managers have more than $3 trillion invested in overseas stocks and bonds, with over half of that stashed in the US. Other countries such as the Netherlands, Australia and France are also vulnerable to possible Japanese fund repatriation, according to Bloomberg data.
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