Yen briefly surges to mid-142 level on BOJ policy change speculation

Economy

The yen briefly surged to the mid-142 range against the U.S. dollar on Friday morning on market speculation that the Bank of Japan could move away from its ultraeasy monetary policy following remarks by the BOJ chief.

Tokyo stocks fell, with the yen’s strengthening spurring investors to sell exporter-related stocks on concerns that companies’ profits could be affected by the currency movements.

The 225-issue Nikkei Stock Average fell 552.98 points, or 1.68 percent, from Thursday to 32,305.33. The broader Topix index was down 32.82 points, or 1.39 percent, at 2,327.09.

On the top-tier Prime Mar...

Kyodo News

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