Yen Slides into Negative Territory Ahead of Bank of Japan Policy Meeting
The Japanese yen weakened against major currencies during Asian trading on Thursday, slipping back into negative territory against the US dollar. The decline came as demand for the US dollar strengthened due to renewed safe-haven buying following military strikes between the United States and Iran.
Markets expect the Bank of Japan to leave interest rates unchanged at 1%, its highest level since 1995, during its fifth monetary policy meeting of 2026. The central bank's decision is scheduled for Friday, with markets watching for further guidance on the path of monetary policy normalization for the remainder of the year.
The US dollar rose 0.1% against the Japanese yen to ¥163.55, up from Thursday's opening level of ¥163.39. The session low stood at ¥163.21.