US dollar stable, yen falls after statements from BOJ

The yen fell against the dollar on Friday after Bank of Japan Governor Kazuo Ueda said it was too early to declare victory in the battle to raise inflation to the target level.

According to Reuters, there was little change in the dollar against major currencies, and Bitcoin caught a breath after its rise last month, and the Chinese yuan fell after weak manufacturing data.

The dollar rose 0.26% to 150.36 against the yen after rising 6.3% in the first two months of the year.

The euro remained almost unchanged at $1.0807, and did not react much to figures that showed inflation in the euro zone slowing slightly less than expected to 2.6% in February from 2.8% in January.

The Chinese yuan declined slightly in foreign transactions after a survey showed a contraction in factory activity for the fifth consecutive month in February. It was last traded at 7.2139 per dollar, down about 1.3% since the beginning of the year.

Bitcoin rose 1% in the latest trading at $61,900 after achieving its largest monthly gains since 2020 in February, driven by the influx of cash into exchange-traded funds.

The Swiss franc showed a modest reaction to the announcement by National Bank President Thomas Jordaens that he would step down after 12 years. It recorded a slight decrease in the latest trading at 0.8856 francs to the dollar.