Dollar climbs past 157 yen after two BOJ board members reject rate hike
The yen weakened to just over 157 per dollar on Friday following dissent from two Bank of Japan board members on the policy rate increase.
The Bank of Japan raised its policy rate to 1.25% as expected, but two of the nine board members voted against the move. Their opposition sparked concerns about the pace of future tightening, pushing the dollar up about one yen to the lower 157 yen range. The exchange rate hit 157.05-06 yen at 1 p.m., its highest level in two weeks.
Why it matters
The yen's drop reflects market anxiety about Japan's future rate moves, influencing global currency and trade dynamics.
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dollaryenexchange rateBOJinterest rate hikepolicy ratemarket reaction
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