Reported 2 months ago
The yen experienced a decline in volatile trading following comments from Bank of Japan Deputy Governor Shinichi Uchida, who stated that the central bank will refrain from raising interest rates amidst unstable financial markets. After a brief five-day rally post the BOJ's rate hike, the currency weakened over 2% against the dollar but later recovered slightly. Uchida emphasized the necessity for an accommodative monetary policy given the extreme volatility in the markets.
Source: YAHOO