Yen Surges as BoJ Hawkishness and Intervention Push USD/JPY Below 159.50
The Japanese yen strengthened significantly on Friday, with USD/JPY falling to the 159.50 area after intervention and a hawkish Bank of Japan policy stance.
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The yen surged on Friday, driving USD/JPY sharply lower. The pair dropped near the 159.50 level as the Japanese currency gained ground.
Behind the move were intervention by Japanese authorities and a relatively hawkish policy signal from the Bank of Japan. The combination sparked a broad yen bid across the session.
Source: FXStreet Forex News