TOKYO, Japan (AFP) — The yen soared against the dollar Thursday after the Bank of Japan surprised markets by holding off fresh stimulus while it pushed back its timeline for hitting a 2.0 percent inflation target.
The dollar plunged to 109.15 yen just after the announcement from above 111 yen. Markets had widely expected new measures to counter a downturn in the world’s number three-economy. Speculation had picked up pace after Japan published another set of weak data on Thursday morning.
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