TOKYO -- The yen weakened below 158 yen to the dollar on Friday afternoon, immediately after the Bank of Japan announced that it will cut its Japanese government bond (JGB) purchases, but not immediately, following its monetary policy meeting.
Currencies
Yen weakens as BOJ gives no details on JGB purchase cut
Japanese currency falls to level not seen since late-April intervention
The yen dropped to its lowest point since April 29, the day the government and the central bank likely intervened to prop up the currency for the first time in a year and half. (Photo by Yuji Murakami)
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