Yen Tumbles to 157.50 as BOJ Hikes Interest Rates

The Japanese yen has continued its downward trend against the US dollar, reaching a new low of around 157.50 on Friday in Tokyo.

This comes after the Bank of Japan raised interest rates by a quarter-point earlier in the day, sparking concerns about further policy tightening.

Despite repeated attempts at recovery, the yen's value has continued to slide, as the market tries to assess the pace and scale of any future BOJ policy moves.