Yen rebounds on scepticism over BOJ measures

London

THE yen rebounded on Wednesday, with investors sceptical about whether the Bank of Japan's (BOJ) latest measures will be enough to generate inflation and many also cautious about the US dollar before the Federal Reserve policy announcement.

Japan's central bank has overhauled its massive stimulus programme, scrapping its focus on monetary base and setting targets for long-term rates. It also committed to overshooting its elusive 2 per cent inflation target.