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The dollar hit a 21-month low against the yen on Thursday as the yen surged broadly after the Bank of Japan held off from expanding its monetary stimulus.
The yen also hit multi-year highs against the euro and sterling as well as the Australian dollar, as ongoing worries that Britain may vote next week to leave the European Union dampened risk appetite, prompting investors to head for the safe-haven Japanese currency.
The greenback had already been under pressure after the U.S. Federal Reserve lowered its economic growth forecasts, cementing expectations that it will have to skip tightening next month, even as the Fed still signaled it was planning to raise rates twice this year.
Fed Chair Janet Yellen was not clear on whether a rate increase could come at the next policy meeting in late July, but investors decided that the absence of any hint meant no hike next month, with interest rate futures effectively pricing out a July rate hike.
EUR / USD: during the Asian session, the pair was trading in the $ 1.1260-85
GBP / USD: during the Asian session, the pair is trading in the range of $ 1.4060-1.4200
USD / JPY: on Asian session the pair fell to the level of Y104.00
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