Yen set for third straight daily gain against dollar after BOJ holds rates
TLT•The yen was on track for a third consecutive daily gain after the Bank of Japan held its main rate at 1.25% and upgraded its inflation outlook. The yen rose 0.11% to 157.51 per dollar, while the dollar index was flat at 101.88.
1. Yen gains after BOJ decision
The yen was on track for a third consecutive daily gain on Friday after the Bank of Japan held its main rate at 1.25% and upgraded its inflation outlook. The BOJ said its policy had entered a more hawkish phase, leaving open the possibility of rate increases every few months. The yen rose 0.11% to 157.51 per dollar but remained on track for a monthly loss.
2. Dollar weighed by yields
Declining U.S. Treasury yields weighed on the dollar. The dollar index was flat at 101.88 and headed for a second consecutive monthly gain. The euro fell 0.12% to $1.1168 and was on track for a second straight monthly loss.
3. AI spending concerns
Results from Alphabet, Amazon and Intel rekindled concerns about AI spending, triggering a selloff in technology stocks on Friday. Bitcoin fell 2.61% to $76,780.93 as investors pulled money from digital assets after hackers stole $6.3 billion from Binance.
