The Japanese yen rose slightly to around 151.6 per dollar
The Japanese yen rose slightly to around 151.6 per dollar on Wednesday but remained close to its lowest level in two weeks as the dollar strengthened ahead of a key US inflation report. Domestically, investors were processing mixed economic data from Japan.
The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that producer prices in Japan surged at the fastest pace in 16 months in November. On the monetary policy front, markets remain divided on whether the Bank of Japan will raise interest rates in December or January.
Recently, BOJ Governor Kazuo Ueda suggested that a rate hike may be imminent, citing economic performance in line with expectations. However, BOJ board member Toyoaki Nakamura raised concerns about the sustainability of wage growth and pointed to signs of economic weakness, adding uncertainty to the outlook.(Cay)
Source: Trading Economi
