India, March 6 -- The Japanese yen strengthened against other major currencies in the European session on Thursday, in reaction to the Bank of Japan's (BoJ) hawkish monetary policy outlook. Additionally, concerns about a worsening global trade war are driving up demand for safe haven currency like JPY.
The yield on Japan's 10-year government bonds jumped beyond 1.5%, reaching its highest level in more than 15 years.
Following Germany's announcement of a €500 billion infrastructure fund and proposals to alter borrowing laws, a wider rally in European bond yields contributed to this increase. It is anticipated that these actions will boost German GDP and improve investor sentiment.
Recently, Deputy Governor Shinichi Uchida of the Ban...