The Japanese yen suffered sharp losses against its counterparts on Friday after the Bank of Japan kept its monetary policy course unchanged. The BoJ's slightly negative interest rate contrasts with the stances of other major global central banks that have opted for restrictive monetary policies to combat soaring inflation in their countries, and currency trading is seemingly affected by the opposing views.
The United States dollar jumped 1.11% to ¥141.822 at 8:17 pm CET, reaching a six-month high minutes earlier. The euro increased by 0.70% to ¥155.17 at 8:19 pm CET shortly after hitting a new 14-year record against the yen. The British pound soared 1.48% to ¥182.0025 at 8:21 pm CET, moments after rising to the strongest level against the Japanese currency since December 2015.
