USDJPY Exchange Rate

The U.S. dollar erased its gains against its major counterparts in the New York session on Friday.

Japan's central bank left its massive monetary policy stimulus unchanged on Friday and policymakers remained dovish even as inflation continued to remain above the target and all major central banks are close to the end of their tightening cycle. The Bank of Japan decided to retain a negative interest rate of 0.1 percent on current accounts that financial institutions maintain at the central bank.

The Japanese yen weakened against other major currencies in the Asian session on Friday, after the Bank of Japan maintained its ultra-loose monetary policy unchanged on Friday, as widely expected.

The Japanese dropped slightly against other major currencies in the Asian session on Friday.

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The Dollar Index (DXY), which gauges the value of the Greenback against a basket of 6 major currencies, eased to 105.40 from 105.55. US bond yields were mixed. The 10-year rate climbed to 4.49% while the 2-year yield fell 6 basis points to 5.14%.

The U.S. dollar remains steadfast above the $105 mark, while the domestic stock market experienced turbulence after the recent Fed Chair's statement.