Yen Slides Back to 160.00 as Post-BoJ Rally Fizzles
The Japanese yen weakened past the 160.00 handle against the U.S. dollar on Friday, giving up gains that followed the Bank of Japan’s recent policy move. USD/JPY traded within a wide 240-pip range earlier in the session.
The Japanese yen weakened moderately on Friday, pulling USD/JPY back above the 160.00 mark as the post-Bank of Japan rally lost steam. At the time of writing, the pair was changing hands just over 160.00.
Earlier in the session, USD/JPY whipsawed within a roughly 240-pip range, swinging between 158.60 and 161.00. The volatility highlights the market’s struggle to find a clear direction after the BoJ’s latest policy announcement.
The move effectively erases the yen’s brief gains that followed the central bank’s decision, underscoring continued pressure on the Japanese currency.
Source: FXStreet Forex News