Japanese currency near two-year low as rate gap pressures mount
The Bank of Japan raised its policy rate to 1% on Tuesday, but the move had been largely priced in, limiting support for the yen. (Photo by Akira Kodaka)
NEW YORK — The yen fell against the dollar Wednesday after the U.S. Federal Reserve held rates steady, erasing gains from market interventions by the Japanese government and the Bank of Japan, and hitting its weakest level in nearly two years.
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