Yen surges on surprise Bank of Japan policy move

A man walks past an electronic display board showing the foreign exchange rate between the Japanese yen and the US dollar, along a street in Tokyo on Dec 20, 2022. -AFP

LONDON (AFP): The yen soared to a four-month high against the dollar Tuesday (Dec 20) after a surprise tweak to monetary policy of the Bank of Japan, which has decided against hiking interest rates to tame decades-high inflation.

Rallying also against the euro, the yen's jump weighed heavily on share prices of Japanese exporters.