# Yen soars to 4-month peak, global markets jolted after surprise Bank of Japan policy tweak | The Straits Times

> The yen surged to a four-month peak against the dollar on December 20, 2022, after the Bank of Japan surprised markets by reviewing its yield curve control policy. The central bank widened the trading band on the 10-year JGB yield to 50 basis points either side of zero, from 25. Short-term rates were left at minus 0.1%.

- Date: 2022-12-20 · published 2022-12-20T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38469-yen-soars-to-4-month-peak-global-markets-jolted-after-surprise-bank-of-japan
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

A sharp yen gain and possible capital repatriation from Japan could push up global borrowing costs and pressure asset prices. This raises financing costs for grain and feed trade flows priced in dollars.

## Read by commodity

- USDJPY: bearish ▼

## Sources

- straitstimes.com: https://www.straitstimes.com/business/yen-soars-to-4-month-peak-global-markets-jolted-after-surprise-bank-of-japan-policy-tweak

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.