The yen fell to 81.87 against the dollar in afternoon trading, according to Reuters.
FORBES: Japanese Stocks Recover After G7 Currency Intervention
The Nikkei 225 index rose 2.4%, while the yen fell to a 33-month low.
The yen fell as low as 98.85 against the dollar, before rebounding slightly.
Yet markets were unimpressed as Japanese equities dropped and the yen fell 1.5% against the greenback after the announcement.
FORBES: The Real Deal On Japan's New QE Bazooka And Why The Yen Trade Broke Down
Even if the yen fell further, China would not need to devalue.
The market responded positively to the bank's move, with the Nikkei 225 index rising to a four-month high, while the yen fell against both the dollar and the euro.
TOKYO The yen fell to nearly 100 against the U.S. dollar a level it hasn't crossed since April 2009 in Asian trading Monday after Group of 20 officials signaled approval of Japan's aggressive new monetary policy.
Billionaire macro investors like Louis Bacon and stock pickers like billionaire Dan Loeb have made big investments in Japan and have enjoyed strong returns as the Japanese stock market soared and the yen fell in 2013.
The bank argues that when, in 1995-98, the yen fell sharply against the dollar (and hence the Korean won, which was then pegged to the dollar), Japan did not grab any market share away from South Korea.
Japanese stocks climbed for the seventh successive session on Friday, reaching a fresh multiyear high, as the yen fell against the U.S. dollar, while Hong Kong and Australian markets rose after trade figures kicked off China's monthly economic data.
As the yen fell below 140 to the U.S. dollar June 8, its lowest level in seven years, economists warned of a double-U - a slow recovery suddenly cut by a new round of devaluations, say, or a meltdown in Wall Street or Russia.
Japan's Nikkei Stock Average climbed 3.8% to the highest level since September 2008, and the yen fell against the dollar to briefly touch a near three-year low, after Bank of Japan Gov. Masaaki Shirakawa offered to step down three weeks before the expiration of his term.
The dollar rose against the yen but fell slightly versus the euro.
The Japanese yen fell to a fresh 2.5-year low against the U.S. dollar and a three-year low versus the Euro currency Wednesday.
The Japanese Yen also fell after the Bank of Japan announced it would expand its bond-buying program.
That promise was reiterated this week by the central bank's governor, Dai Xianglong, as the Japanese yen fell lower.
The dollar fell against the yen late in the day after an earlier rally.
The U.S. dollar edged higher against the euro but fell versus the yen.
The dollar gained against the euro but fell against the yen.
In Asia, the Japanese stock market fell as the yen rallied on safe-haven investor demand due to the resurfacing of the EU debt crisis.
FORBES: A.M. Kitco Metals Roundup: Gold Sees Fresh Safe-Haven Demand on EU Worries; Bernanke on Deck
Extrapolating from a temporary plunge in the value of America's currency against Japan's the dollar fell below 80 yen in the spring of 1995 he predicted that Japan would surpass the United States to become the world's largest economy by 2000.
ECONOMIST: How do books about the future stand up to the test of time?
The dollar rose against the euro and the yen, while demand for Treasurys fell, pushing the yield on the benchmark 10-year note up to 1.87%.
The dollar fell to a session low against the yen Wednesday after the ISM released its report.
On Friday, the American currency fell to its weakst level against the yen since April 2000.
应用推荐