TOKYO, Dec. 19 (Xinhua) — The Japanese foreign money weakened sharply to a five-month low in opposition to the U.S. dollar in Tokyo buying and selling on Thursday because the Bank of Japan (BOJ) signaled a dovish coverage stance after leaving rates of interest unchanged.
At 5 p.m. native time, the buck fetched 156.46-49 yen in contrast with 154.77-87 yen in New York and 153.57-59 yen in Tokyo on the similar time Wednesday.
Earlier within the day, the yen fell to over 155 in opposition to the U.S. dollar after the BOJ stated on the finish of a two-day coverage assembly that it will maintain rates of interest regular at 0.25 p.c, its weakest level since Nov. 21.
The Japanese foreign money later additional dropped previous 157 yen at one level, the weakest charge since July, as BOJ Governor Kazuo Ueda informed a press convention that he would wish extra data to find out how corporations would elevate wages in annual negotiations within the spring, fueling speculations that the central financial institution could maintain charges regular once more in January.
Meanwhile, Tokyo shares ended decrease on Thursday for the fifth straight buying and selling day.
The 225-issue Nikkei Stock Average ended down 268.13 factors, or 0.69 p.c, from Wednesday at 38,813.58, whereas the broader Topix index completed 6.04 factors, or 0.22 p.c, decrease at 2,713.83.