Bank of Japan\u2019s Spontaneous Buying Boosts Yen; Kiwi Strong, Dollar \u0026 Swiss Franc Weak; Stocks Lower on China Covid Fears.
Get DailyForex analysis to your emailThe Forex market is dominated by a firm rally by the Japanese Yen, as the Bank of Japan conducts unscheduled bond purchases in the market.The Bank of Japan announced another tranche of unscheduled bond purchases, offering to buy an unlimited amount of 2-year notes at a positive yield of 0.03%. This caused the Japanese Yen to strengthen.
Stock markets are mostly lower as the USA joins several other countries in requiring covid testing on arrivals from China. A flight arriving from China to Italy was tested and more than half the passengers were found to be positive, fanning fears that the seemingly massive contagion in China could spill over into another global wave.
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