Yen hovers near 159.65 as hawkish BoJ signals fail to stem decline
Mumbai, Nov. 12 -- The Japanese yen remained subdued near 159.65 against the dollar on Thursday, hovering around its weakest levels in over two months as renewed intervention concerns failed to halt its decline. Japan's top currency official Atsushi Mimura reiterated that markets should not overlook the joint intervention by Japanese and US authorities earlier this summer. Meanwhile, domestic producer price inflation accelerated to 7.1% in October from 6.8% in September, while the BoJ's latest policy commentary signalled growing support for another rate hike in December. However, expectations of faster Fed tightening, fuelled by persistent US inflation and hawkish policymaker remarks, have kept the dollar firmly supported, leaving the yen...
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