Yen dips before BOJ rate decision
The Japanese yen experienced a decline against the dollar and euro as investors awaited the Bank of Japan's decision on interest rate hikes, amid a quietude in currency markets. The Japanese currency fell by 0.1% against the dollar to reach 156.19 yen and by 0.2% against the euro to 179.3 yen, following data showing a slowdown in Japan's inflation in August. It is expected that the Bank of Japan will raise interest rates to their highest level in over three decades, after Japanese inflation slightly fell below expectations. Meanwhile, the British pound dropped to its lowest level in two and a half months at 1.3359 dollars following the Bank of England's decision to keep interest rates unchanged, with a surprising six-month suspension of bond sales. In the oil markets, Brent crude decreased by 1% to $103.76 per barrel amid risk assessments following escalations between Saudi Arabia and the Houthis, while the dollar index stabilized at 100.21. Regarding cryptocurrencies, Bitcoin saw a slight decline of 0.1% to $76,442.97, and Ethereum was down 0.2% at $2,447.39.
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