Yen climbs as BOJ move fuels tightening speculation

London

THE yen reached a five-day high on Tuesday, after the Bank of Japan (BOJ) trimmed its purchases of long-dated government bonds in market operations, stoking speculation the central bank could start to wind down its huge stimulus policy this year.

Since it adopted its yield-curve-control policy in 2016, the BOJ has occasionally tweaked its bond operations, with officials saying any changes are meant to keep bond yields in line with its policy goal and not to telegraph hints on its future policy.