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Dollar surges 2 percent vs yen on BOJ's aggressive easing
April 4, 2013 / 6:36 AM / in 5 years

Dollar surges 2 percent vs yen on BOJ's aggressive easing

SINGAPORE, April 4 (Reuters) - The dollar climbed 2 percent against the yen on Thursday after the Bank of Japan announced sweeping monetary easing measures aimed at ending decades of grinding deflation.

The dollar last stood at 95.05 yen, up 2.1 percent from late U.S. levels on Wednesday. The dollar was at roughly around 92.90 yen just before the BOJ’s decision earlier in the day.

Among several steps announced Thursday, the BOJ adopted a new balance sheet target and pledged to double its government bond holdings in two years as it seeks to inject life into the world’s third-largest economy.

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