Yen hovers near nine-month low
The Japanese yen slipped to around 154.6 per dollar on Monday, staying close to its lowest level since February despite stronger-than-expected growth data.
Japan's economy contracted 0.4% quarter on quarter in the three months to September, reversing a 0.6% expansion in Q2 but beating market forecasts for a 0.6% decline.
The currency remains under pressure after Prime Minister Sanae Takaichi urged the Bank of Japan to maintain low interest rates, emphasizing that monetary policy should support both robust economic growth and stable price increases.
Meanwhile, BOJ Governor Kazuo Ueda highlighted resilient consumption fueled by higher household incomes and a strengthening labor market, noting that underlying inflation is gradually approaching the BOJ's 2% target and leaving the door open for an imminent rate hike.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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