CADJPY Exchange Rate

The Bank of Japan left its key interest rate unchanged near zero and the bank's latest projections showed the underlying inflation staying around 2 percent that further damped expectations for aggressive tightening in future. The BoJ policy board, headed by Governor Kazuo Ueda, unanimously decided to hold the overnight interest rate at around 0 to 0.1 percent.

The Japanese yen weakened against other major currencies in the Asian session on Friday after the Bank of Japan left its key interest rate unchanged and raised its inflation outlook.

The Japanese yen weakened against other major currencies in the Asian session on Friday.

Consumer prices in the Tokyo region of Japan were up 1.8 percent on year in April, the Ministry of Internal Affairs and Communications said on Friday.

Participants in the foreign exchange (forex) market focused their attention on Chinese economic data and U.S. inflation statistics during this week. These factors have a significant impact on monetary policy predictions and overall market sentiment.