BOJ meeting summary weakens yen to 158.21 per US dollar
Business
The Japanese yen took a hit on Thursday, dropping 0.5% against the US dollar after the Bank of Japan (BOJ) shared its September meeting summary.
Since there was no sign of an immediate interest rate hike, the yen slid to 158.21 per US dollar, making it the weakest among major global currencies right now.
BOJ October hike chances drop
After the BOJ's update, chances for an October rate hike fell below 20%, down from over 30%.
Some in the BOJ sounded ready for change, but not enough to convince markets.
Meanwhile, a new survey showed big manufacturers in Japan are feeling more confident, but with little inflation pressure building up, back-to-back rate hikes look unlikely.
As Japan navigates global economic uncertainty, all eyes are on what the BOJ does next.