Japan forced to prop up yen after bank keeps to negative interest rates

Central banks are putting rates up as currencies slide against dollar but Japan and Turkey buck trend

Japan has intervened to prop up the yen for the first time since 1998, after it hit a 24-year low as its central bank resisted the trend for higher interest rates.

Tokyo was forced to take action in the foreign exchange market to shore up its weakening currency, after the Bank of Japan (BoJ) maintained its ultra-loose monetary policy on Thursday.