Dollar Flat After Japan's Cut
The dollar was little changed against the yen Friday after the Bank of Japan cut interest rates, but not by quite as much as markets were hoping. Japan's central bank cut its benchmark rate by 0.20 percantage points to 0.30% in an effort to encourage lending and spark growth in the country's struggling economy. Markets were expecting a 0.25-point cut, so the disappointment pushed Tokyo's stock market lower. That caused modest risk aversion, which pushed the low-yielding yen higher across the board as global currency ...
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