Forex
Yen Strength Fuels USD/JPY Drop Ahead of BoJ Rate Decision
The USD/JPY pair dropped to 153.70 on Friday as the yen strengthened ahead of a potential Bank of Japan interest rate decision next week.
The currency initially rose after the US inflation print, but reversed course and drifted back towards its recent range following a slide from the mid-155s.
The dollar's lift was short-lived as markets priced in a 25 basis point rate rise to 1.25%, which would be the highest level in over three decades.