The Bank of Japan’s most anticipated policy announcement in years left investors underwhelmed, sparking a surge in the yen and sending government bonds and emerging-market stocks lower. Japan’s currency rallied against all of its 31 major peers after the BOJ kept its government-bond buying target and policy interest rate unchanged, opting instead to increase exchange-traded fund purchases.
Caption
Laboratory technicians work on samples to be tested for the COVID-19 coronavirus at a testing facility in Wuhan, China on August 4, 2021. (Getty Images)