Market News
Yen slides as tariffs keep BOJ on hold, dollar edges higher - REUTERS
By Samuel Indyk and Tom Westbrook
Summary
- Yen sold as BOJ holds rates but cuts economic forecasts
- Dollar recovers more lost ground
- Friday's US jobs data in focus
LONDON/SINGAPORE, May 1 (Reuters) - A sliding yen boosted the dollar on Thursday as the Bank of Japan lowered growth forecasts in light of U.S. tariffs and left rates on hold, while investors watched for signs of the trade war cooling and awaited U.S. labour market data.
The yen dropped by as much as 1.1% to 144.74 per dollar, its weakest since April 10. It was last at 144.33 per dollar.
The central bank's hold on interest rates was unanimous and anticipated, but investors saw the downgraded outlook as reducing the likelihood of future hikes.
