Yen Recovers After BOJ Rate Check Report

The yen's losses were partially reversed on Friday after the Nikkei newspaper reported that the Bank of Japan had conducted a rate check in the foreign-exchange market.

This report helped to curb some of the yen's decline triggered by trader disappointment over the lack of clear guidance from the central bank on its plans to raise borrowing costs further to stabilize inflation, following a widely expected rate increase on Friday.

The Bank of Japan had indeed conducted a rate check in the foreign-exchange market, as reported by the Nikkei newspaper.