LONDON/SINGAPORE—The yen weakened to a fresh 15-year low against the euro on Tuesday after a small step by the Bank of Japan (BOJ) towards ending years of monetary stimulus failed to appease some investors who had expected a bigger move, while eurozone economic growth and inflation moved lower.
At the conclusion of its two-day policy meeting, the BOJ said that it would keep the 10-year government bond yield around 0 percent set under its yield curve control (YCC), but re-defined 1.0 percent as a loose “upper bound” rather than a rigid cap.