FOREX-Yen surges after BOJ hints at policy shift, sending dollar lower

The yen staged its biggest one-day rally in almost a year on Thursday after Japanese monetary authorities offered a surprisingly clear hint at a shift in policy, while the euro pared some losses from earlier in the week. Bank of Japan (BOJ) Governor Kazuo Ueda said on Thursday the central bank has several options on which interest rates to target once it pulls short-term borrowing costs out of negative territory. Tighter monetary policy from the BOJ would be in contrast to other central banks, which have indicated that they are near the end of their rate hiking cycles.