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The Economic Times
The Economic Times
Business

Yen slumps to two-week low after BOJ rate hike underwhelms

The yen sank to a two-week low against the dollar on Friday after two policy makers at the Bank of Japan dissented from a widely expected decision to raise interest rates, raising doubt among traders about the likelihood of further hikes.

Policymakers pushed rates to their highest level in 31 years at 1.25%, yet the move failed to boost the currency as traders felt there was a lack of explicitly hawkish guidance.

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