Dollar slips after Japan rules out ‘helicopter money’

The yen strengthened against the dollar and the euro during Asia trade on Wednesday, after Japan’s top government spokesman ruled out implementing so-called “helicopter money,” that involves a central bank directly buying government bonds to finance government spending or tax cuts.

The U.S. dollar USDJPY, -0.28%  changing hands at ¥104.24, compared with ¥104.67 late Tuesday in New York. The euro EURJPY, -0.39% was lower at ¥115.34 from ¥115.87.

Improved sentiment on hopes for Japan’s fresh fiscal stimulus have helped boost Tokyo stocks by 8% so far this week and caused unwinding of bullish yen bets. Investors have flocked to the safe-haven yen since the U.K. vote to leave the European Union last month.

For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my