Yen soars after BOJ head says currency 'very weak'

London

THE yen surged to a two-week high against the dollar on Wednesday, after the head of the Bank of Japan said the currency was unlikely to fall further because it was already "very weak", prompting investors to trim huge bets against the yen.

Analysts said the comments suggest that the BOJ may have started the long process of preparing the market for a time when the Japanese economy will need less monetary stimulus.