Japanese Yen Plunges as Bank of Japan Shifts Policy, Sparking Currency Intervention Concerns

Japanese yen depreciates sharply against dollar and euro after Bank of Japan maintains negative rates and tweaks yield curve control.

Bank of Japan's new policy allows 10-year bond yield to rise above 1.0%, moving away from ultra-accommodative stance.

Yen drop worsened by Ministry of Finance saying it hasn't intervened recently in FX markets.

USD/JPY breaks above 151, hitting highest level since October 2021, with 152.85 as next resistance.

EUR/JPY hits 15-year high above 160 but faces resistance at 161 - breakout could spark rally to 162.80.