USD/JPY hits a 5-month high just shy of 158.00

Yen weakening after the Bank of Japan left its short term cash rate unchanged at its meeting yesterday.

• ForexLive Asia-Pacific FX news wrap: Bank of Japan leaves rates unchanged, yen slumps
• ForexLive European FX news wrap: Yen tumbles on Ueda, BOE keeps rates steady

Despite inflation moving solidly higher:

• Japan November headline CPI +2.9% (expected +2.9%, prior 2.3%)

This article was written by Eamonn Sheridan at www.forexlive.com. Source