The yen swung sharply from the day¡¯s low to near its high amid jittery trading in the wake of the Bank of Japan¡¯s decision to keep monetary policy unchanged.
It traded down 0.6% at ?156.51 as of 5:41 p.m. in Tokyo after earlier being at the day¡¯s weak point of ?156.82. Gov. Kazuo Ueda indicated that monetary policy will stay easy for now, with the currency touching a fresh 34-year low versus the dollar Friday.
The yen¡¯s extended slump has heightened speculation that authorities may intervene in the market as soon as Friday, with further risks to come later when data on the U.S. Federal Reserve¡¯s preferred inflation gauge is released.
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