Currencies: Yen slides, losing safe-haven allure after Bank of Japan decision

The yen was weaker against its peers on Wednesday after the Bank of Japan announced a new policy framework.

The greenback USDJPY, +0.12% was changing hands at ¥102.23 after going as high as ¥102.79 earlier in the session. The U.S. currency was at ¥101.72 late Tuesday in New York.

The euro EURJPY, +0.11% rose to ¥113.92 from ¥113.43 in New York, while the Australian AUDJPY, +0.51% strengthened to ¥77.31 from ¥76.85.

Investors bought the yen as an initial reaction to the BOJ statement earlier in the session, in which the central bank left its deposit rate unchanged at minus 0.1%, which pulled the dollar to as low as ¥101.00, its lowest level since Aug.

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