Greenback reaches 6-week minimums vs. yen

Greenback reaches 6-week minimums vs. yen

On Wednesday, the evergreen buck extended losses versus the Japanese yen after the Bank of Japan reduced the size of its bond purchases in the previous session, spurring rumors that it could start scaling back its monetary stimulus later in 2018.

The currency pair USD/JPY slid 0.64% hitting 111.94, versus the earlier outcome of 111.77, which appeared to be the weakest reading since December 1.

The Japanese yen edged up after on Tuesday the Bank of Japan diminished the size of its bond-repurchase offer in its latest market operation, reminding traders that it’s going to normalize monetary policy.

The Japanese yen also rallied versus the common currency, with EUR/JPY sliding 0.63% reaching 133.62.

The common currency was hovering near one-and-a-half week minimums versus the evergreen buck, with EUR/USD trading at 1.1939 having lost 0.33% on Monday.

The UK pound dived against the greenback, with GBP/USD decreasing 0.21% being worth 1.3510.

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