Business | Mar 20

Yen Drops Amid Speculation of No Further BOJ Rate Hikes

TOKYO, Mar 20 (News On Japan) - The yen momentarily weakened to 150.90 against the dollar at approximately 2:15 a.m. on March 20th, driven by market speculation that additional BOJ rate hikes are unlikely in the near future.

Although the Bank of Japan (BOJ) decided to end its negative interest rate policy at the monetary policy meeting on March 19th, the statement included the phrase "a continued accommodative financial environment is expected for the time being."

In the United States, with the results of the Federal Open Market Committee (FOMC) meeting on the 20th pending, there is speculation that interest rate cuts will be postponed beyond the market's original expectations. This has brought the interest rate differential between Japan and the U.S. back into focus.

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