The
yen rose the most among its developed-market peers after Bank of Japan
Governor Haruhiko Kuroda showed little appetite for an immediate
expansion of stimulus before the central bank sets policy on Friday.
Japan’s
currency halted a two-day slide after Kuroda said in an interview on
Jan. 22 in Davos, Switzerland that “at this stage, we don’t think the
current market situation has been affecting corporate behavior unduly.”
The yen has gained against all its major counterparts since the start of
the year as a China-led stock selloff and a continued tumble in oil
prices spurred demand for haven assets. Hedge funds and other large
speculators raised net bullish yen positions to the highest in almost
four years last week.
The
yen added 0.2 percent to 118.50 yen per dollar as of 9:46 a.m. in
Tokyo, extending its advance this year to 1.4 percent. It strengthened
0.2 percent to 127.96 per euro.
Source: Bloomberg
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