Bank of Japan's Policy Shakeup Sends Dollar Tumbling Against Yen
The dollar fell significantly against the yen, dropping 1.14% to 156.6, during a tumultuous trading day after the Bank of Japan decided to keep interest rates unchanged. Earlier, the yen had plunged to near 18-month lows, hitting 159.2 per dollar.
On a day marked by financial turbulence, the dollar saw a sharp decline against the yen, slumping by 1.14% to 156.6. This depreciation occurred following the Bank of Japan's decision to maintain current interest rates.
Earlier, the yen had hit lows not seen in almost a year and a half, weakening to 159.2 against the dollar. Market volatility was palpable as investors reacted to the Bank of Japan's unexpected stance.
Analysts suggest the decision reflects ongoing caution about economic conditions, playing a critical role in the currency fluctuation witnessed throughout the trading session.
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