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Yen weakens despite rate increases
The Japanese yen weakened against the major currencies during today's trading in Asian markets, despite the Bank of Japan's decision to raise interest rates to their highest level in over three decades. The currency fell by 0.6% to 156.91 against the dollar. The yen also depreciated by 0.7% against the euro, reaching 180.21, and the British pound dropped to its lowest level in two and a half months at 1.3363 dollars following the Bank of England's decision to keep interest rates unchanged and temporarily halt government bond sales. The dollar remained stable against the main currencies at 100.25, while the Australian dollar rose by 0.2% to 0.7124, and the New Zealand dollar declined by 0.2% to 0.5718.
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