NEW YORK/LONDON, Oct 31 - The yen slid across the board and hit a 15-year low against the euro on Tuesday after the Bank of Japan's step to end years of monetary stimulus left investors cold, while global stock indexes were higher a day before the Federal Reserve is expected to again say interest rates will stay high for longer.
The yen fell to a new one-year trough against the dollar. The dollar was last up 1.7% at 151.56 yen, on track for its best one-day increase since late April. "With major unknowns remaining around the central bank’s reaction function, and another raft of stronger-than-expected data helping boost US yields, rate differentials are tilting more aggressively against the yen as the session unfolds.”
The pan-European STOXX 600 index rose 0.59% and MSCI's gauge of stocks across the globe gained 0.33%.
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