The yen reached a new 34-year low against the dollar as the Bank of Japan announced that monetary policy would remain loose. This led to speculation that authorities may step in to prevent further depreciation of the currency. The Japanese yen weakened by 1.8% in a single day, hitting a low of 158.33 per dollar, with the decline accelerating during late trading in New York. The drop began after the BOJ’s policy meeting, where it decided to keep interest rates steady and Governor Kazuo Ueda made no statements to bolster the yen during a press conference.
Subscribe
Login
0 Comments