USDJPY News Today: Yen Weakens as Bank of Japan Hikes Rates, December

The Bank of Japan’s recent decision to hike interest rates to unprecedented levels has sent the Japanese yen weaker against the dollar. This move reflects Japan’s ongoing efforts to normalize its monetary policy, marking the highest rates in 30 years. The implications are significant, not only for the USDJPY currency pair but also for Japanese government bond (JGB) yields, impacting traders and investors globally.