Japanese yen slumps on dovish BOJ, Asia FX hit by Fed fears.
The Japanese yen fell sharply on Friday after the Bank of Japan largely maintained its dovish stance, while broader Asian currencies also came under pressure from renewed fears of more interest rate hikes by the Federal Reserve.
The yen was the worst-performing Asian currency for the day, down 0.7% to a one-week low after the Bank of Japan maintained interest rates at record lows and said that it will continue with its quantitative easing and yield curve control policies.
