The yen remained under pressure after the Bank of Japan, as expected, left interest rates unchanged. Meanwhile, the US dollar was heading for its sharpest weekly decline since June amid geopolitical tensions and sharp policy changes around Greenland that have unsettled markets.

Last month, the Bank of Japan raised its key interest rate to a 30-year high, but this did not help the weakened yen. Today's decision by the regulator left the Japanese currency in a vulnerable position. Attention will now focus on comments from Bank of Japan Governor Kazuo Ueda, but for now, the general trend of a weakening US dollar has helped the USD/JPY pair retreat from recent highs. Significant support can be found in the market around the 157.00 mark.