Yen Suffers Worst Day In 2026 Despite BoJ Hiking Rates To 31-Year High: Here's Why
The Bank of Japan raised its key interest rate Friday as expected, lifting its benchmark from 1% to 1.25%—its highest level since 1995. Despite the move, the yen suffered its worst daily drop in nine months. The dollar jumped 1.2% against the currency to a two-week high of 157.84 yen. That's its largest daily gain sinc