Yen fell to its lowest level in 3 weeks, after new decisions by the Bank of Japan

The Japanese yen fell again to a three-week low on Tuesday as traders assessed moves announced last week by the Bank of Japan to adjust its yield curve control policy, while the Australian dollar fell ahead of the Reserve Bank of Australia’s interest rate decision.

The yen has been on a perilous journey since Friday when the Bank of Japan took another step toward a slow shift away from decades of massive monetary stimulus, saying it would offer to buy 10-year Japanese government bonds at 1.0 percent in fixed-return operations instead of the previous yield of 0.5 percent. percent.

The Japanese currency touched its lowest level at 142.80 yen per dollar. In the latest trading, it reached 142.66 yen against the dollar, down 0.26 percent. The benchmark 10-year Japanese government bond yield rose on Monday to a nine-year high, prompting the central bank to make additional purchases to cap its rally.

And the dollar index futures, which measures the performance of the US currency against a basket of currencies, rose 0.059 percent to 101.93 points, approaching a new peak in three weeks. The index fell 1 percent in July.

Meanwhile, the British pound was last traded at $1.2827, down 0.08% on the day, after rising 1.1% in July.

The euro fell 0.06% to $1.0986, while the New Zealand dollar fell 0.14% to $0.620.