The dollar surged to a fresh 34-year high against the yen on Friday, bolstered in part by U.S. inflation data that showed no signs of easing, coming in line with forecasts and affirming expectations that the Federal Reserve will likely delay cutting interest rates to later this year.

On Friday, the BoJ unanimously agreed to continue guiding its overnight interest rate within a range of about zero to 0.1 per cent. In March, the central bank ended its negative interest rate policy, raising borrowing costs for the first time since 2007.

Japan's central bank stood pat and declined to make a policy change on Friday despite a falling yen because it has not played a major factor on inflation.