The Japanese yen rallied on Thursday after the Bank of Japan kept interest rates...
LONDON - The Japanese yen rallied on Thursday after the Bank of Japan kept interest rates on hold, while the dollar struggled to move higher despite the Federal Reserve offering mixed signals about the path for further easing.
The Bank of Japan kept monetary policy steady - as expected - and signalled the chance of expanding stimulus as early as its next policy meeting in October by issuing a stronger warning over the risks threatening the economy. The U.S. central bank, on a 7-3 vote, lowered the Fed funds target rate to a range of 1.75% to 2.00% “in light of the implications of global developments for the economic outlook.”
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