Yen Pares BOJ-Fueled Declines Amid Report of a Rate Check
11 Articles
11 Articles
(Tokyo=Yonhap News) Correspondent Lee Do-yeon = As the value of the yen fell in the foreign exchange market immediately after the Bank of Japan raised its base interest rate, the Bank of Japan 'rate check' (rate chec...
Yen Pares BOJ-Fueled Declines as Nikkei Reports a Rate Check
It is reported that the Japanese government and the Bank of Japan (BOJ) have begun a 'late check' ahead of the five-day holiday period ending on the 23rd.
On the 18th, the yen saw a rapid surge in buying in the New York foreign exchange market, leading to widespread speculation that the Bank of Japan (BOJ) conducted a "rate check." Despite the BOJ's decision to raise interest rates, the yen weakened due to receding expectations of further rate hikes, pushing the exchange rate down to around 158 yen to the dollar. However, it then reversed course, rapidly rebounding and rising to the upper 156 yen …
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