Currencies
Yen Closes Worst Week Since 2022 as Earthquake Shifts BOJ Calls
- Currency fell for three straight days after Japan earthquake
- Yen saw biggest weekly drop since Aug. 2022 vs. dollar
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The yen capped its worst week against the US dollar in 16 months, as the economic fallout from a powerful earthquake curbed the likelihood that the Bank of Japan will soon scrap negative rates.
The currency fell as much as 0.9% against the greenback Friday, whipsawing after the release of key US labor and ISM services data, only to end the day little changed. The dollar-yen currency pair was up 2.6% on the week to 144.63, the highest in more than three weeks.