Yen Consolidates; May be Buoyed by Prospects of BOJ Rate Hike
Dow Jones
Aug 14
0012 GMT - The yen consolidates against other G-10 and Asian currencies but may be buoyed by prospects of BOJ rate increase. There's a media report that the "Takaichi government is supportive of a near-term interest-rate hike by the Bank of Japan," CBA's Carol Kong says in a research report. "Prime Minister Takaichi's preference of lower interest rates is widely considered to be a constraint on the pace of BoJ rate hikes," the economist and currency strategist says. "The market is currently pricing about a 70% chance of a 25bps BOJ rate hike at the September meeting," Kong adds. The dollar is little changed at 159.48 yen and the euro is flat at 183.96 yen, FactSet data show.
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