NEW YORK -- Japan's currency on Tuesday touched its strongest level against the dollar since early August as investors saw the Bank of Japan's loosening of its cap on interest rates as a sign of change in a nearly decadelong policy of ultraeasy money.
Currencies
Yen surges to 130 per dollar after surprise BOJ policy shift
Investors buy back Japan's currency on expectation of narrower rate gap
An employee of foreign exchange trading company Gaitame.com works by a monitor illustrating the yen rate against the U.S. dollar in Tokyo on Dec. 20. © Reuters
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