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Yen firms to upper 158 against dollar on BOJ outlook fueling rate hike hopes from June

Tue Apr 28, 2026 3:25 pm JST Currency

The dollar traded at 159.20 yen in Tokyo at 1500 hours on April 28, with the yen firmed by 0.03 yen from 1700 hours the previous day. The euro stood at 186.33 yen, up 0.65 yen.

The Bank of Japan (BOJ) maintained its policy stance on Tuesday, meeting market expectations, though the decision was split 6-3. Policy Board members Junko Nakagawa, Hajime Takada, and Naoki Tamura dissented. In its quarterly Outlook Report, the central bank raised its median core CPI forecast for fiscal 2026 to 2.8% from 1.9% in January, a move perceived as hawkish. The yen briefly touched the upper 158 range against the dollar on growing bets for a June or July rate hike, though gains were capped as investors shifted to a wait-and-see mode ahead of Governor Kazuo Ueda's press conference.

The euro fetched 1.1706 dollars, up 0.0036 dollars from late Monday.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.

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