The U.S. dollar rose against the yen on Tuesday after the Bank of Japan made small tweaks to policy rather than more drastic changes that some traders in the market had anticipated, before paring those gains.
The dollar reached a one-week high of 111.44 yen <jpy=>, rising about 0.3 percent shortly after the BOJ made changes to make its massive stimulus program more flexible after a two-day policy board meeting.</jpy=>
The greenback had pared its gains about one hour after the BOJ’s policy decision, trading flat at 111.07 yen.
The dollar index (DXY), a measure of its value against a basket of six major currencies, was nearly flat at 94.313, off a one-year high of 95.656 touched on July 19.
