Japanese Yen Lifted by Prospect of Faster Rate Hikes, Intervention Risk
Dow Jones09-28 19:06
1106 GMT - The Japanese yen rises to a 10-day high against the dollar, supported by the threat of further interventions to support the currency and expectations for faster interest-rate hikes by the Bank of Japan. Japan's Finance Minister Satsuki Katayama said Friday that President Trump expressed concerns about the yen's weakness to Japanese Prime Minister Sanae Takaichi, fueling speculation over the risk of currency interventions. The minutes of the BOJ's July meeting, released Monday, showed one board member pointed to the possibility that rate hikes could be quicker than market expectations. The dollar falls to as low as 156.49 yen, LSEG data show.
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