BoJ Hikes Rates, Sending Yen Plummeting Against US Dollar
The Japanese yen plummeted after the Bank of Japan (BoJ) raised its key benchmark rate by 25 basis points to 1.25%, marking the highest level since April 1995.
The BoJ made this rate policy decision with a vote of 7-2, as reported.
The yen's sharp decline against the US Dollar has pushed the USD/JPY pair to near 156.95 at the time of writing, its highest level in two weeks.