Yen strengthens past 158 as BoJ rate hike expectations build
Mumbai, Nov. 5 -- The Japanese yen strengthened past 158 per dollar on Thursday, extending gains for a second consecutive session as growing expectations of further Bank of Japan (BOJ) monetary tightening supported the currency. Minutes from the BOJ's September meeting revealed concerns among policymakers that inflation could exceed the 2% target, with members favouring a more flexible approach to future rate increases. Although the central bank held its policy rate at 1.25% in October, markets are increasingly pricing in another hike at its December 17-18 meeting. The yen also benefited from broad US dollar weakness following Democratic victories in the US midterm elections, which eased political uncertainty and reduced concerns over a p...
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