Yen Flip-Flops in Volatile Trading, Keeping Investors Wary

CURRENCY - LONDON. The yen hit choppy trading on Thursday after a sharp drop the day before in a volatile week in which investors have had to digest the unwinding of popular carry trades and how Japanese monetary policy might evolve.

The yen swung between losses of 0.14% and a gain of 0.85%, having slid 1.6% on Wednesday, after the Bank of Japan's Deputy Governor Shinichi Uchida played down the chance of a near-term hike in interest rates that would typically boost the currency.