The yen advanced against all Group-of-10 currencies and government bonds slumped as traders mulled potentially hawkish comments from Bank of Japan Governor Kazuo Ueda on the negative interest rate policy.
Ueda told the Yomiuri newspaper it’s possible the BOJ will have enough information by year-end to judge if wages will continue to rise — a key factor in deciding whether or not to end its super-easy policy.
The currency strengthened as much as 0.8% to 146.67 per dollar in early Asia trading Monday before trading 0.6% higher at 146.93 as of 9:35 a.m. in Tokyo. Japan’s benchmark bond yield rose 4.5 basis points to 0.695%, the highest level since 2014.
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