CORRECTED: FOCUS: BOJ's commitment to easy policy keeps yen on relentless slide

Economy

The Bank of Japan's steadfast commitment to a loose monetary policy coupled with the authorities' inability to stem the yen's slide could send the Japanese currency to its weakest level in more than 20 years against the U.S. dollar. Falling below 130 yen against the dollar Thursday after the central bank left its ultraeasy monetary policy unchanged, market analysts expect the yen to test the downside toward 135.15, a level not seen since Jan. 31, 2002. Once this support is breached, the next downside target is expected at 136.05, set in October 1998. The yen has fallen about 15 yen, or 13 perc...

Kyodo News

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