The yen fell to a new 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept ultra-low interest rates and forecast that inflation will slow later this year in contrast with the European Central Bank's (ECB) rate hike on Thursday.
its -0.1% short-term interest rate target and a 0% cap on the 10-year bond yield set under its yield curve control policy.
That and some soft U.S. economic data saw the dollar fall broadly as traders scaled back their bets on how high U.S. interest rates would need to rise. ECB President Christine Lagarde told a news conference that another rate hike in July was highly likely and that the central bank still has "ground to cover" to stave off high inflation.
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