Yen Outperforms G-10 Peers After Report Sustains Rate Hike Bets

The yen led gains among Group-of-10 currencies as a media report backed expectations that the Bank of Japan remains on a tightening path.

Japan’s currency rose as much as 0.4% to 155.76 per dollar, alongside gains in short-end domestic government bond yields. In an interview with the Yomiuri newspaper, Bank of Japan Governor Kazuo Ueda said he will examine the impact of December and earlier rate hikes when deciding on the next interest rate increases, and stressed his intention to continue doing so in line with improvements in economic and price situation.