Mumbai, Oct. 16 -- The Japanese yen strengthened to 157.8 per dollar, recovering from a six-week low as the US dollar retreated from an almost 18-month high amid a sharp rally in US bonds. Japan's Finance Minister Satsuki Katayama urged G20 policymakers to closely monitor financial markets amid renewed currency weakness and global bond market volatility. Meanwhile, Bank of Japan board member Junko Koeda cautioned against excessive caution in raising interest rates, keeping the prospect of further tightening alive. Although the BOJ is reportedly reluctant to deliver a second consecutive rate hike this month, a potential increase in December remains under consideration.

Published by HT Digital Content Services with permission from Capital ...