Forex
Yen Plunges to 157 on BOJ Rate Hike Disappointment
The yen fell to 157 against the US dollar on September 18 as expectations for aggressive Bank of Japan tightening receded. This came after the central bank raised its policy rate by a quarter point to 1.25% around midday.
No policy board member proposed a half-point hike, which had been speculated by some market participants.
The yen's decline was triggered by lower-than-expected consumer inflation in August, which came in at a level that dampened hopes for aggressive monetary tightening.