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After a dovish BOJ meeting, the dollar gains ground while the yen slipped

28 Apr,2023
After a dovish BOJ meeting, the dollar gains ground while the yen slipped

The greenback moved up on Friday, but it was still on track for a monthly loss, while the Japanese yen fell after the Bank of Japan generally maintained its dovish position.

The dollar index that gauges the greenback versus its major pairs ticked up by 0.2% at 101.415 recovering from two week drop witnessed through the week.

The dollar remained on course for a monthly loss of less than 1%, after falling almost 2.3% in March, as traders worried about the stability of the United States' banking system and the probability of the Federal Reserve discontinuing its relentless monetary tightening as the country's economic growth slowed.

EUR/USD euro crept higher to 1.1029, keeping close to its previous one-year high, and is on track for a monthly gain of more than 1.5%.

GBP/USD plunged by 0.1% to 1.2481.

USD/JPY edged up by 1% to 135.29 where yen slumped sharply as new Bank of Japan Governor Kazuo Ueda decided at his first policy meeting to maintain the ultra-easy monetary policy and make no changes to the yield curve management strategy.

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