Yen Consolidates; Likely Buoyed by Prospects of Hawkish BOJ Rate Hike
Dow Jones
Sep 04
2347 GMT - The yen consolidates against the dollar and other currencies in early trade, but may be buoyed by prospects of a hawkish BOJ rate hike later this month. BOJ Gov. Ueda's comments have reinforced expectations of another rate increase, while board member Takata has raised the possibility of a move larger than the 25 basis points currently expected, FOREX.com's Fawad Razaqzada says in an email. "Markets are now pricing around 49bp of [BOJ] tightening by year-end, up around 22bp before the late-July intervention episode," the market analyst adds. The dollar is little changed at 155.83 yen after touching 155.28 yen overnight, the lowest intraday level since Aug. 3, according to LSEG data.
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