The yen gained its month high against the dollar

dollar to yen
The yen gained its month high against the dollar./ source via - google search, business news
The U.S. dollar USDJPY, -0.09%  declined to as low as ¥106.14 earlier in the session, its lowest since Oct. 17, 2014, before bouncing back to ¥106.51. This compares with ¥106.45 late Friday in New York.

The Japanese currency strengthened at a rapid pace, as the BOJ’s inaction Thursday dashed hopes for more stimulus especially among non-Japanese investors.

It is a clear indication that the short-term players are being driven the selling, as the dollar’s fall by nearly 6 yen over just two days.

The volume was thin as investors are celebrating the golden week holiday period, Government offices and financial markets will be closed May 3-5 for national holidays.
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