The dollar drifted off multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan.
and Monday and that the amount of bond buying to defend it is starting to look unsustainable.
"The market has run pretty hard with this story and is looking for a follow up," said Tony Sycamore, an analyst at brokerage IG Markets. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The U.S. dollar index bounced from a seven-month low of 101.77 made a day ago and held at 102.28. Sterling touched its highest since mid-December at $1.2288 and was last at $1.2199.
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