Yen gains against US dollar after Bank of Japan holds rates - The Business Times

[NEW YORK/LONDON] The yen was on track for a third consecutive daily gain on Friday (Oct 30) after the Bank of Japan (BOJ) left rates unchanged and upgraded its inflation outlook, while declining US Treasury yields weighed on the greenback. The BOJ left its main rate at 1.25 per cent in a widely anticipated move, but stressed that its policy had entered a new, more hawkish phase open to raising rates once every few months. The yen was last up 0.11 per cent at 157.51 per US dollar, but was on track for a monthly loss in October. “The market is a little disappointed in the BOJ,” said Joseph Trevisani, senior analyst at FXStreet. “The yen is a little bit stronger today, but not as strong as it has been.