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Yen Slides to Two-Week Low as BOJ Rate Hike Fails to Signal Faster Tightening
Vera
By Vera
Markets Editor
The yen weakened to a two-week low after the Bank of Japan raised its policy rate by 25 basis points to 1.25%, the highest level in 31 years. Reuters reported the dollar up 1.2% at ¥157.84, with the move on course to be its largest daily rise against the yen since December. Two policymakers dissented from the 7–2 decision, while traders saw limited hawkish guidance on further increases. Finance Minister Satsuki Katayama reiterated that Japan would not hesitate to conduct further coordinated CurrencyDefinition A currency is a form of money used to pay for goods and services, measure value, and transfer purchasing power between people and businesses. Examples include t...Read More intervention if necessary.
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