URGENT: Nikkei falls over 2% after BOJ tweaks yield cap program
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The Nikkei index plunged over 2 percent Friday after the Bank of Japan decided to make its yield curve control program more flexible, allowing long-term government bond yields to rise above its 0.5 percent cap.
The U.S. dollar weakened to the lower 138 yen range after briefly spiking to around the 141 yen line in an immediate reaction to the BOJ announcement after the central bank’s policy meeting.
