Mumbai, Sept. 18 -- The Japanese yen fell sharply after the Bank of Japan hiked its key benchmark rate by 25bps to 1.25%, marking the highest level since April 1995. BoJ made rate policy decision by 7-2 vote. The Japanese currency plunges against the US Dollar after the Bank of Japan's monetary policy decision. The USD/JPY pair surges to near 156.95 at the time of writing, its highest level in two weeks. Meanwhile, investors await BoJ Governor Kazuo Ueda's press conference to get fresh cues regarding whether the central bank will remain on the monetary tightening path. Moreover, with recent Fed rate hike, the global interest rate differential continues to stay, creating demand for higher-yielding US Dollar over the Yen.

Published by HT D...