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Yen logs 5% April gain vs. dollar with Fed, Bank of Japan on hold
The dollar tumbled to an 18-month low against the Japanese currency Friday after a widely watched gauge of inflation showed upward price pressures abated last month, removing some pressure for the Federal Reserve to raise interest rates. For the month of April, the dollar dropped 5.1%, its largest monthly decline against the Japanese currency in two months, while its year-to-date decline stretched to 11.5%. The yen was the month’s best performer against the dollar among the currencies of developed nations. Some of the month’s best performers against the U.S. dollar included emerging-market currencies like the ... (full story)