Yen slides on Japanese stimulus betsTOKYO -- The yen on Thursday slid to its lowest level in about six weeks on expectations of fresh stimulus from the Japanese government and central bank, ahead of a European Central Bank meeting later in the day. Traders are positioning ahead of next week's Bank of Japan policy meeting, with some expecting more easing measures that would weaken the yen. In Tokyo, the dollar rose as high as 107.49 yen from 106.87 yen in New York on Wednesday, its highest since early June and before Britain's referendum, while the euro climbed to 118.19 yen from 117.72 yen. On Thursday, Japanese media said Tokyo was readying a package of at least 20 trillion yen — twice as much as earlier reported — to kick start the world's No. While the bank is not expected to make any major policy announcements, there is speculation its chief Mario Draghi will promise support to markets or flag fresh stimulus.

Source: The China Post July 21, 2016 18:00 UTC