Yen Falls as Bank of Japan Maintains Loose Monetary Policy, Dollar at Six-Month High

The yen fell on Friday after the Bank of Japan maintained its ultra-loose monetary policy, while the dollar remained near its highest level in six months amid expectations that interest rates will remain high for a longer period in the United States.

The Japanese currency fell by approximately 0.4 percent against the dollar, after the Bank of Japan maintained interest rates at very low levels as well as its guidance on low interest rates in the future, despite the statement of the bank’s governor, Kazuo Ueda, earlier this month that the Bank of Japan may have data. Enough before the end of the year to determine whether negative interest rates can be ended.

The yen fell to its lowest level in ten months in the previous session against the backdrop of rising US Treasury bond yields.

The dollar rose against a basket of currencies by 0.11 percent to 105.51, a level not far from its highest level in six months, which it recorded in the previous session at 105.74.

The euro fell 0.13 percent to $1.0649, after falling to a six-month low of $1.0617 in the previous session.

The British pound also fell 0.15 percent to $1.22765, after falling to its lowest level in nearly six months at $1.22305 yesterday, Thursday, after the Bank of England halted a long series of interest rate increases.

2023-09-22 04:24:26
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