The dollar sank compared to the yen on Monday, reaching a low unseen since December 17. On Friday, the Bank of Japan raised interest rates to 0.5%, taking them to their highest level in 17 years. The country's business activity improved slightly in January, although manufacturing lagged behind services. Meanwhile, the dollar has been unsettled by the start of United States President Donald Trump's first week in office and his threats of widespread tariffs, among other policy shifts. The private sector and consumer confidence in the US both slipped in January.
The dollar traded 1.33% lower against the yen at 6:19 am ET, going for 153.863.