Dollar rises sharply to upper 134 yen as BOJ maintains easing policy

The U.S. dollar briefly rose by around 1 yen to the upper 134 yen range Friday in Tokyo in reaction to the Bank of Japan’s decision to maintain ultralow interest rates.

The Nikkei index further gained ground, rising by more than 300 points, or 1 percent, at one point, after the central bank concluded its first policy meeting under its new governor, Kazuo Ueda.

Although the BOJ’s decision was widely expected by the market, the yen’s weakness came after the central bank said core consumer prices are likely to rise 1.6 percent in fiscal 2025 from a year earlier, remaining under its inflation targ...