Dollar jumps above 157 yen line after 2 BOJ board members opposed rate hike
TOKYO (Kyodo) -- The U.S. dollar jumped above the 157 yen line on Friday, after two of nine Bank of Japan policy board members voted against an intere
The US dollar rose above 157 yen on Friday. This followed a Bank of Japan policy board meeting where a 7-2 vote decided to raise the short-term interest rate to 1.25% from 1.00%.
According to FXStreet, two board members, Toichiro Asada and Ayano Sato, voted against the rate hike. The yen initially fell in reaction to the decision, as it was seen as not hawkish enough by markets.
The Bank of Japan noted potential risks including Middle East developments, AI demand, and FX volatility. The central bank also expressed concern that underlying inflation could exceed its 2% target.
Brief written by urgent.news from The Mainichi, FXStreet — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
