Injection of microbubbles within the turbulent boundary layer has been investigated for several years as a method to achieve drag reduction. However, the physical mechanism of this phenomenon is not yet fully understood. Experiments in a channel flow for single phase (water) and two phase (water and microbubbles) flows with various void fraction values are studied for a Reynolds number of 5128 based on the half height of the channel and bulk velocity. The state-of-the art Particle Tracking Velocimetry (PTV) measurement technique is used to measure the instantaneous full-field velocity components. Comparisons between turbulent statistical quantities with various values of local void fraction are presented to elucidate the influence of the microbubbles presence within the boundary layer. A decrease in the Reynolds stress distribution and turbulence production is obtained with the increase of microbubble concentration. The results obtained indicate a decorrelation of the streamwise and normal fluctuating velocities when microbubbles are injected within the boundary layer.