The yen plummets against the dollar after a decision by the Bank of Japan that the market did not like

He dollar rises 1.3% compared to and inand the euro a little more, each with its largest daily increase since the end of Octoberafter the previous meeting of the Bank of Japan disappointed the markets, which were waiting for a sign of monetary policy change.

The greenback reached 144.95 yen, and the common currency reached 158.56.

The BOJ and a meeting that left little taste

Although the result was within market expectations, investors were attentive to signs about whether the central bank could signal a possible move away from negative interest rates.

“Everyone is trying to take advantage of the last trade of the year,” he said. Lee Hardmancurrency analyst at MUFG. “The message from the BOJ today is that they remain very cautious and There are no clear signs that they are getting closer to raising rates“.

BOJ Governor Kazuo Uedasaid in a press conference that “the prospects for (sustainably achieving our inflation target) are gradually increasing. But as to whether the threshold will be met, we would prefer to analyze more data.”

On the other hand, the pound gains 0.5% to $1.2707, surpassing the euro which advanced 0.2% to $1.0941.

He dollar index was at 102.52, above last week’s four-week low of 101.75, but down more than 4% since early October, as the Federal Reserveat its meeting last week, gave encouragement to investors who expected rate cuts in 2024.

This week the underlying personal consumption price index (PCE), the preferred measure of Fed to measure inflation, and could clarify whether the price change has slowed enough for the US central bank to begin to relax its monetary politics next year.