The Bank of Japan keeps policy settings unchanged, triggering a bout of volatility in the yen as it slides to its weakest level against the dollar since 1990
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The latest wobbles in the currency came as Suzuki, who spoke hours ahead of the BOJ decision, repeated his recent warnings against speculative moves in the yen, keeping traders on edge as to when Tokyo may“The weak yen has both positive and negative impacts ,” Suzuki told a press conference, adding that he is “more concerned about the negative effects right now.”
The yen’s slide to 34-year lows against a broadly firmer dollar has been driven by wide US-Japan interest rate differentials. The yield-induced downturn in the yen has gained renewed momentum on signs the BOJ will go slow on raising its near-zero rates and expectations the US Federal Reserve will likely delay the start of its rate-cutting cycle.gave little away on when the next rate hike would come.
“The currency takeaway is certainly disappointment from the lack of guidance from the bank,” said Rodrigo Catril, senior Sydney-based forex strategist at National Australia Bank .
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