The yen remains weak and trading near multidecade lows against the dollar as the Bank of Japan balks at implementing a decisive about-face on its ultraeasy monetary policy.
“If there are no major changes in monetary policy, the yen will continue to weaken,” said Hirofumi Suzuki, chief foreign exchange strategist at Sumitomo Mitsui Banking.
The country’s central bank has been making moves to end free money in Japan and signaling its intention to take interest rates higher.