The Japanese yen weakened beyond 153 per dollar on Monday, as the Bank of Japan’s October policy meeting summary highlighted divisions among policymakers over the timing of future rate hikes.
BoJ expectations hit Japanese yen
Some members raised concerns over global economic uncertainties and increasing market volatility, particularly regarding the yen’s depreciation. Despite these cautionary views, the central bank projected a potential rate increase to 1% by the second half of the 2025 fiscal year. Last week, the yen had already been pressured as the dollar strengthened following Donald Trump’s U.S. presidential victory.
Regained some ground
However, the yen regained some ground after Japanese officials ramped up warnings against excessive currency declines. On Friday, Finance Minister Katsunobu Kato emphasized that Japan would take “appropriate action” to manage extreme exchange rate movements.
