Yen drops to 2-week low on stimulus talk

London

THE yen fell to a two-week low on Thursday as investors sold the currency on speculation that the Bank of Japan could decide to expand its monetary stimulus as soon as next month.

Talk of more action gathered pace after prominent Japanese academic Takatoshi Ito said that the BOJ is likely to expand monetary stimulus either in June or July. Mr Ito is said to have close ties to governor Haruhiko Kuroda.