Yen holds gains on BoJ tightening signals and global risk aversion
Mumbai, Nov. 6 -- The Japanese yen held firm around 157.5 per dollar on Friday, extending gains after rising more than 0.5% in the previous session to outperform all its G10 peers. The currency drew support from stronger economic data and hawkish minutes of the Bank of Japan's September meeting, which reinforced expectations of further monetary tightening. Policymakers signalled scope to accelerate rate hikes depending on developments in the Middle East, AI-driven demand and foreign exchange movements. The yen also benefited from safe-haven flows as a sweeping Democratic victory in the US midterm elections intensified concerns over tighter AI industry regulation, triggering a sharp global equity selloff. The BoJ had raised its policy rate...
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