The dollar index, which measures the US currency against a basket of peers, was a shade weaker at 101.77. (Reuters pic)HONG KONG: The yen inched higher on Friday after the Bank of Japan (BOJ) held rates steady as expected, while the dollar tracked Treasury yields lower as a fresh wave of selling in AI shares triggered a flight to safety.
The BOJ left interest rates on hold at 1.25% in a widely anticipated move, but revised up its inflation forecast and stressed anew its readiness to continue pushing up borrowing costs to forestall mounting inflation risks.
Following the decision, the yen strengthened to a high of 157.115 per dollar, erasing most of its losses for the month and putting it on track to end October broadly flat.
