Yen Strengthens on Prospects of More Aggressive Tightening by BOJ

Dow Jones
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0255 GMT - The yen strengthens against other G-10 and Asian currencies on prospects of more aggressive tightening of monetary policy by the BOJ. The Bank of Japan has remained in focus, UOB's Global Economics & Markets Research team says in a research report. In a speech on Wednesday, "hawkish [BOJ] board member Hajime Takata left the door open for an outsized rate increase and back-to-back hikes," the team says. Takata said that a 25bp rate increase "is not necessarily set in stone," the team notes. The dollar falls 0.4% to 158.01 yen after touching 157.90 yen, its lowest intraday level since Aug. 10, LSEG data show.

 

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