TOKYO -- The Japanese yen depreciated to the weakest level in almost two months against the dollar as investors back-peddled on their expectations that the Bank of Japan would raise interest rates soon. Stronger than expected U.S. economic indicators also tempered anticipation of an interest rate cut by the Federal Reserve.
Currencies
Yen dips to 2-month low against dollar as investors bet on longer BOJ pause
Expectations of Fed interest rate cut also fall after GDP and jobs numbers
Tokyo's unexpectedly stable inflation has led some investors to believe that the Bank of Japan is in no hurry to raise interest rates. (Photo by Akira Kodaka)
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