Yen tests seven-month high ahead of BOJ policy decision; dollar wobbles

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Reuters UK

By Rae Wee SINGAPORE (Reuters) – The Japanese yen held near an over seven-month peak on Monday, as traders, in the lead up to the Bank of Japan’s monetary policy decision this week, ramped up bets that the central bank could make further tweaks to its yield control policy. The yen was last 0.1% lower at 128.01 per dollar, having surged to 127.46 per dollar on Friday, its highest since May last year. Markets have been pressing for the BOJ to shift away from its ultra-easy monetary policy, which on Friday caused the yield on Japan’s benchmark 10-year government bonds to breach the central bank’s…

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