yen

Another price-negative factor for the JGB market is the yen’s latest weakness, which typically boosts Japan’s import prices and leads to higher inflation.

In overseas trading, the yen weakened Thursday after the Bank of Japan held interest rates steady.

The yen weakened modestly against the dollar after the BoJ decision, which was carried by seven votes to two.

The yen rose as volatility in gold prices ignited a rebalancing across safe-haven assets in favor of the Japanese currency, City Index said.

Several benchmark indexes crossed key levels on Monday: Japan’s Nikkei Stock Average rose above 50000 for the first time, getting support from a weaker yen and growing hopes of stimulus under Japan’s new political administration.