The Japanese yen fell on the European market on Friday against a basket of global currencies, extending losses for the second consecutive day against the US dollar, on the verge of touching the seven-month low recorded yesterday, following the central bank’s monetary policy decisions.
The Bank has maintained facilitative monetary policy and kept Japan’s interest rates unchanged, reiterating its pessimistic stance that runs counter to the hard-line policies of its global peers, especially the Federal Reserve.
The dollar rose against the yen two days ago by 0.8% to (141.40 yen), from the opening price of today’s trading at (140.25 yen), and recorded a low of (139.85 yen).
The yen ended trading on Thursday, down nearly 0.2% against the dollar, in its fourth loss in the last five days, hitting a seven-month low of 141.50 yen.
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