Yen Likely to Remain Weak After BOJ Hold, Strategists Say

The yen is unlikely to stanch its recent weakness after the Bank of Japan held rates as expected, according to strategists, who saw the decision as tilting slightly hawkish.

The currency extended losses, dropping as much as 0.5% to 159.23 to the dollar, as Governor Kazuo Ueda flagged possible bond operations at his press conference. The currency, however, recovered to as strong as 157.37 after the briefing.