FOREX-Yen slumps to two-week low after BOJ rate hike underwhelms

The yen ?sank ?to a two-week low against the dollar on Friday after two policy makers at the Bank of Japan dissented from a widely expected decision to raise interest rates, raising doubt among traders about the likelihood of further hikes. Policymakers pushed rates to their highest level ?in 31 years at 1.25%, yet the move failed to boost the currency as traders felt there was a lack of explicitly hawkish guidance. The U.S. dollar rose more than 1.2% against the Japanese currency to a two-week high of 158.07 yen after wavering during BOJ Governor Kazuo Ueda’s press conference. It…