Dollar skid vs. yen continues as report says BOJ hike may come this month

By Steve Goldstein

The U.S. dollar skidded against the yen on Friday after a report that a growing number of Bank of Japan officials are warming to the idea of ending negative interest rates this month.

The dollar (USDJPY) fell 0.7% to 147.02 yen, and it's dropped 2% over the last five days.Reuters reported the Bank of Japan story, citing four sources familiar with its thinking. The report said it's likely to overhaul its yield curve control and quantitative easing plan as well, though the story also said it's a close call and the BOJ may want to wait for the meeting ending April 26.

Wage growth in January accelerated by 2%, data released Thursday showed, news that help stoke rate hike speculation.

-Steve Goldstein

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03-08-24 0617ET