The Japanese yen was last at 151.8 per dollar, little recovered from last week’s slump to 34-year lows of 151.975, as the Bank of Japan’s historic policy shift only served to underscore its outlier status. While the BOJ raised rates for the first time in 17 years, its policymakers’ commitments to go slow on further increases have hammered the yen especially given the still-wide Japan-U.S. yield gap.
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