The yen weakened, briefly reaching the low ¥157 range to the dollar. The Bank of Japan decided to raise its policy rate by 0.25 percentage points, while 2 Policy Board members opposed the move. The press conference was also widely perceived as dovish.
In Tokyo foreign exchange trading on the 18th, the yen weakened against the dollar, briefly reaching the low ¥157 range. The yen had been weakening since the evening of the 17th, and it was the first time in about 2 weeks that it had reached ¥157.
The Bank of Japan announced that day its decision to raise the policy rate by 0.25 percentage points. 2 of the Policy Board members reportedly opposed the rate hike.
Governor Ueda Kazuo (植田和男) was at times widely perceived as dovish during his press conference, which was reported to have contributed to the yen's weakness.
The yen-dollar exchange rate rose again after details of the Bank of Japan's decision emerged, briefly reaching the ¥157 range. After returning to the ¥156 range, it settled back in the ¥157 range during Governor Ueda Kazuo (植田和男)'s press conference.