© Reuters. Japanese yen and British pound banknotes in a photo from Reuters archives.
SINGAPORE (Reuters) – The yen fell on Friday after the Bank of Japan maintained its ultra-loose monetary policy, remaining near its highest level in six months on expectations that interest rates will remain high for a longer period in the United States.
The Japanese currency fell by approximately 0.4 percent against the dollar after the Bank of Japan maintained interest rates at very low levels, as well as its guidance on low interest rates in the future, despite the statement of the bank’s governor, Kazuo Ueda, earlier this month that the Bank of Japan may have sufficient data. Before the end of the year to determine whether negative interest rates can be ended.
The yen fell to its lowest level in ten months in the previous session against the backdrop of rising yields.
The dollar rose against a basket of currencies by 0.11 percent to 105.51, a level not far from its highest level in six months, which it recorded in the previous session at 105.74.
It fell 0.13 percent to $1.0649, after falling to a six-month low of $1.0617 in the previous session.
The pound also fell 0.15 percent to $1.22765, after falling to its lowest level in nearly six months at $1.22305 yesterday, Thursday, after the Bank of England halted a long series of interest rate increases.
(Prepared by Marwa Gharib for the Arabic Bulletin)
2023-09-22 04:35:00
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