As the yen continues to fall against other major currencies, the focus is on when the Japanese government and the Bank of Japan could intervene in the foreign exchange market to support the yen.
The yen hit a 34-year low at ยฅ158.40 per dollar in U.S. trading on Friday, weakening from around ยฅ155.50 before the Bank of Japan announced a decision to leave its monetary policy unchanged shortly after Friday afternoon in Japan.
Selling of the yen against the dollar accelerated after BOJ Governor Kazuo Ueda told a news conference on the day that the yen’s current weakness has not significantly affected Japan’s underlying inflation.
