Yen Tumbles After BOJ Rate Hike Fails to Stem Currency's Slide

The yen has weakened against its major peers in Asian trading on Friday, following a widely-expected rate hike by the Bank of Japan. The Japanese currency fell as much as 0.8% to 157.145 yen per dollar, its weakest level since September 3.

Despite the rate hike, which was the highest in over three decades, the BOJ's decision was not unanimous, with two board members voting to keep policy unchanged.

Ray Attrill, head of FX strategy at National Australia Bank, said the BOJ 'underwhelmed' versus expectations and that the lack of a unanimous vote 'raised eyebrows' in the market.