Yen sinks to 34-yr low near 152 vs. dollar as BOJ to remain dovish

Economy

The yen briefly fell to a 34-year low near the 152 line against the U.S. dollar in Tokyo on Wednesday, as the yen was sold on expectations the Bank of Japan will maintain its accommodative stance despite raising interest rates.

The yen hit around 151.97 per dollar after BOJ board member Naoki Tamura said short-term interest rates would remain near zero for the time being, even though the central bank took a step toward normalizing policy by ending negative interest rates last week.

Investors have been selling the yen for the dollar amid a wide interest rate differential between Japan and the U...

Kyodo News

Kyodo News Bank of Japan