Most Asian currencies fell on Wednesday amid growing concerns over a global economic slowdown this year, with the Japanese yen plummeting after the Bank of Japan maintained its accommodative stance.
The yen was the worst-performing Asian currency for the day, tumbling 2.6% to 131.47 against the dollar – one of its worst daily declines ever recorded. The BOJ held interest rates at ultra-low levels, and kept its yield curve control range unchanged, blindsiding market expectations for a further widening in the policy.
