USD/JPY down below 103 after BOJ Stimulus Comments

The yen remained on the backfoot early in Asia on Tuesday, having succumbed to further selling pressure on prospects of more stimulus from the Bank of Japan.

The dollar hit a six-month high of 103.13 yen, while sterling scaled a five-year peak of 168.79 yen after sources at the Bank of Japan said the bank was looking at plans to expand its already massive stimulus program.

Yet, one of the officials briefed on the central bank plans said no further stimulus was imminent.


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