Bank stocks in Tokyo are rising again, 5 to 10% up

The BOJ widened its JGB tolerance band. ICYMI:

• ForexLive Asia-Pacific FX news wrap: BOJ pivot sends the yen rocketing higher across board

Follow through for the yen in Europe and America times:

• ForexLive European FX news wrap: Yen flying high after BOJ policy tweak
• Forexlive Americas FX news wrap: Yen hits new highs as the BOJ fallout continues

More:

• BOJ YCC pivot shock: "USD/JPY could be into the 120’s sooner than we expected" says MUFG
• BOJ YCC shock pivot - "risks remain skewed to the downside for USD/JPY"

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Japanese financial stocks rose sharply Tuesday in Tokyo trading on prospects that their profitability will improve.

• the reasoning being that higher government bond yields mean banks and insurers can charge higher interest rates on commercial loans and earn better yields from bonds and other financial investments.

Financial stocks rising again in early trade Wednesday.

• the broader index is getting hit again though.

jpy JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term