The Yen Falls as the BoJ Vows to Double Asset Purchases

“The yen weakened the most since October 2011 and Japanese 10-year bond yields fell to a record as the nation’s central bank said it will double asset purchases. Spanish and Italian notes stayed higher after the European Central Bank kept its benchmark rate at a record low.

Japan’s currency depreciated 2.6 percent to 95.47 yen per dollar at 7:52 a.m. in New York, while 10-year yields slumped to 0.425 percent. Spain’s two-year note yield dropped seven basis points to 2.13 percent and Italy’s fell 10 basis points to 1.57 percent. The won slid to a six-month low and the pound weakened 0.2 percent to $1.5103. The Stoxx Europe 600 Index gained less than 0.1 percent, while Standard & Poor’s 500 Index (SXXP) futures climbed 0.4 percent after the gauge dropped from a record yesterday. Gold retreated to a 10-month low….”

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