The yen rose from a seven week low against the U.S. dollar on Thursday after the Bank of Japan kept monetary policy on hold, in the wake of the Federal Reserve’s overnight decision to cut rates.
The dollar was down 0.44% to 107.95 yen by 2:32 AM ET (6:32 GMT) after the BoJ kept policy on hold, as expected, but signaled it could ease next month.
Central banks around the world have been loosening policy to counter the risks of low inflation and recession.
The euro rose 0.1% against the dollar to 1.1045, while the British pound was little changed at 1.2468.
The Australian dollar was down 0.6% at 0.6786 after data overnight showing that the country’s unemployment rate unexpectedly rose in August, underlining the case for additional stimulus by the Reserve Bank of Australia.