The Japanese currency weakened to the 158-yen range against the dollar in New York on Friday, a level not seen since May 1990, after the Bank of Japan decided to leave monetary policy unchanged.
The BOJ's decision and comments Governor Ueda Kazuo subsequently made at a news conference led to speculation that the central bank will not be raising interest rates in the near future.
Market watchers believe the interest-rate gap between the United States and Japan is likely to remain for the time being, prompting a move to the higher-yielding dollar.
The BOJ's decision and comments Governor Ueda Kazuo subsequently made at a news conference led to speculation that the central bank will not be raising interest rates in the near future.
Market watchers believe the interest-rate gap between the United States and Japan is likely to remain for the time being, prompting a move to the higher-yielding dollar.
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Summary
Japanese yen weakened to a 1990 level against the US dollar in New York on Friday, following the Bank of Japan's decision to maintain monetary policy unchanged. The BOJ Governor Kazuo Ueda's comments suggested no imminent interest rate hike, fueling speculation about prolonged interest-rate
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ID: 55a3bc22-5818-4e09-9b04-940f07d407da
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240427_07/
Date: April 27, 2024
Created: 2024/04/28 06:30
Updated: 2025/12/08 14:40
Last Read: 2024/04/30 16:43