Japanese Yen Hovers Near 13-Month High
The Japanese yen traded around 140.4 per dollar on Tuesday, hovering near its highest levels in 13 months as investors prepared for the latest monetary policy decisions from Japan and the US this week.
The Bank of Japan is expected to keep rates unchanged on Friday but will likely signal further rate hikes. Markets are betting that the BOJ will raise interest rates again in December, while a move in October remains a close call.
On the other hand, the US Federal Reserve is widely anticipated to deliver its first rate cut in four years on Wednesday, with markets pricing in a two-thirds chance of an outsized 50 basis point reduction. Elsewhere, Japan Finance Minister Shunichi Suzuki said on Tuesday that foreign exchange fluctuations have both merits and demerits on the economy, reiterating that rapid moves are undesirable.
Source : Trading Economics