Speculators burnt after BOJ move spurs biggest yen fall since Oct 2014

Tokyo

YEN speculators got burnt again by Bank of Japan governor Haruhiko Kuroda.

The currency held losses against most of its major peers and bond yields dropped to fresh records on Monday after Mr Kuroda unexpectedly announced a negative interest rate strategy on Friday, setting off the yen's biggest drop against the dollar since October 2014.

The move hammered hedge funds and other large speculators that had built up the most bullish yen position in almost four years as …