Greenback soars against yen amid conflicting reports regarding Japan stimulus
On Wednesday, the Japanese yen dared to whipsaw against its key conterpars during Asia trade amid changing hopes for soon-to-be issued stimulus steops by the Japanese authorities.
The US dollar it firstly gained upside momentum right after The Wall Street Journal, quoting folks already familiar with the matter, posted that Japan was considering issuing 50-year bonds, which is supposed to be the longest maturity of Japanese government debt in the postwar epoch.
Contributing to the upward trend appeared to be a local media report that Prime Minister Shinzo Abe would officially announce further details of the stimulus package in the afternoon.
During the lunch break, the evergreen buck rapidly gained traction to hit ¥106.54, before trimming earlier revenues to change hands from ¥114.95 to ¥105.56 lunchtime in Tokyo, while the sterling soared abruptly from ¥137.39 to ¥138.74.
Financial experts were still trying to figure out how much real spending might be included in that stimulus package.