Investing.com - The dollar fell to seven-week lows against the yen on Thursday as ongoing uncertainty over the direction of U.S. monetary policy bolstered demand for the safe haven yen.
USD/JPY hit 96.10 during late Asian trade, the lowest since June 19; the pair subsequently consolidated at 96.20, shedding 0.15%.
The pair was likely to find support at 94.82, the low of June 19 and resistance at 96.92, the session high.
The dollar remained under pressure after two senior Federal Reserve officials said Tuesday that they would not rule out the withdrawal of stimulus measures at the bank’s September meeting.
The yen showed little reaction after the Bank of Japan kept monetary policy unchanged after its policy meeting on Thursday, in a widely expected decision.
Japan’s economy was “starting to recover moderately”, the BoJ said in its statement, maintaining language from the previous month.
The central bank added that consumer prices have begun to move higher, saying that "inflation expectations appear to be rising on the whole."
The yen was slightly lower against the euro, with EUR/JPY inching up 0.08% to 128.52.
The U.S. was to release official data on initial jobless claims later in the trading day.
