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Dollar up, yen down after BoJ rate hold
Currency prices were affected today following the Bank of Japan's decision to keep interest rates steady at 1%, which led to the dollar increasing by 0.45% to reach 160.175 yen after a sharp decline earlier. Meanwhile, the Japanese yen weakened again after the Japanese government intervened to buy yen and sell dollars to support the currency. The dollar continued its decline throughout the week by 1.5% and over the month by 1.2%, while the Bank of Japan maintained its monetary policy. Meanwhile, the U.S. Federal Reserve kept interest rates unchanged, impacting the dollar's performance against other global currencies.
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