Yen Holds Gains Against Dollar After BOJ Keeps Rates Steady

What happened: The Bank of Japan kept interest rates unchanged as expected and indicated the price trend reaches 2% for the first time. The yen held gains against the dollar after the decision. Key numbers: Yen rose about 0.24% to 157.34 per dollar. Board voted 8-1. All 53 economists surveyed expected the move. Why it matters: The move offered signs of a return to the yen's traditional haven role, and Goldman Sachs strategists have said the yen is becoming a more effective hedge against an AI-driven market shock. Nikkei futures extended losses in Osaka after the decision. Coverage: 6 outlets in 24h

The Bank of Japan kept interest rates unchanged as expected and indicated the price trend reaches 2% for the first time. The yen held gains against the dollar after the decision.

The move offered signs of a return to the yen's traditional haven role, and Goldman Sachs strategists have said the yen is becoming a more effective hedge against an AI-driven market shock. Nikkei futures extended losses in Osaka after the decision.