The Bank of Japan's decision to keep its key rate unchanged triggered a flurry of activity on the foreign exchange market.
Investors offloaded the yen, weakening the Japanese currency to the 155-level against the dollar on Thursday for the first time in about a month.
The retreat of the yen also follows hints by the Federal Reserve that it will cut rates at a slower pace next year, which means it's unlikely the interest rate gap between Japan and the US will narrow anytime soon.
Investors sold the yen to buy the dollar and lock in higher yields.
Investors offloaded the yen, weakening the Japanese currency to the 155-level against the dollar on Thursday for the first time in about a month.
The retreat of the yen also follows hints by the Federal Reserve that it will cut rates at a slower pace next year, which means it's unlikely the interest rate gap between Japan and the US will narrow anytime soon.
Investors sold the yen to buy the dollar and lock in higher yields.
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Summary
Bank of Japan maintains key rate, causing investor yen offloading to 155-dollar level. Retreat follows hinted slower Fed rate cuts next year and persistent interest rate gap with US. Investors sell yen to buy dollar for higher yields. #LongTextSummarization
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ID: e253de29-d242-4a19-84c3-2d9d114cd14a
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20241219_B03/
Created: 2024/12/20 07:00
Updated: 2025/12/08 07:45
Last Read: 2024/12/20 07:45