Euro briefly surges to 14-year high vs yen in New York


The euro briefly surged against the yen in New York on Friday to a level unseen since October 2008 after the Bank of Japan decided to continue with its monetary easing policy.

As the European Central Bank is widely expected to keep raising interest rates at a policy meeting next week, prospects of a widening rate gap between Europe and Japan prompted yen selling that temporarily sent the euro to 150.40 yen in the morning.

The U.S. dollar also rose briefly to a one-and-a-half-month high of 136.56 yen the same day.

At 5 p.m. in New York, the euro was quoted at 150.03-13 yen and $1.1011-1021 comp...

Kyodo News

Kyodo News