YEREVAN, April 9. /ARKA/. The dollar and euro fell sharply against the yen on Tuesday as hopes for additional stimulus out of Japan faded, while bargain-hunting on Wall Street lifted stock prices after three days of losses.
The greenback fell 0.60 percent against other major currencies, and the decline was felt in other markets. Prices of oil and gold jumped, and U.S. Treasuries added to two days of strong price gains after the government sold more debt.
For a second time this week, policymakers from a major central bank deflated expectations of additional stimulus, with the governor of the Bank of Japan, Haruhiko Kuroda, saying on Tuesday there was no need for more monetary support to escape deflation.
Investors had expected the BoJ to indicate more support was forthcoming, and the yen rose as the Bank of Japan kept its policy steady.
“You had a lot of players who were short the yen, and Kuroda dashed the hopes of stimulus,” said Richard Scalone, co-head of foreign exchange at TJM Brokerage in Chicago.
The Dow Jones industrial average rose 10.27 points or 0.06 percent, to 16,256.14, the S&P 500 gained 6.92 points or 0.38 percent, to 1,851.96 and the Nasdaq Composite added 33.234 points or 0.81 percent, to 4,112.986. –0–
