USD/JPY Dips Below 160.50 After BoJ Hikes Rates by 25 Basis Points
The Bank of Japan raised interest rates to 1% and signaled further tightening as inflation remains above target. The USD/JPY pair retreated to near 160.25 in European trading on Tuesday after the Bank of Japan (BoJ) raised interest rates by 25 basis points to 1%. The move,