Dollar Surges Against Yen as BOJ Dissent Raises Hike Uncertainty

The US dollar gained strength against the Japanese yen on Friday after two Bank of Japan policymakers dissented from the central bank's decision to raise interest rates.

The BOJ hiked its benchmark rate to 1.25%, but the move failed to boost the yen as traders felt there was a lack of explicitly hawkish guidance.

Traders remained alert to the risk of intervention to prop up the currency, with Finance Minister Satsuki Katayama stating that Tokyo won't hesitate to conduct further coordinated action.