💨 Abstract

The Japanese yen strengthened on Wednesday due to growing expectations of a rate hike by the Bank of Japan. Japanese Governor Kazuo Ueda and Deputy Governor Ryozo Himino both indicated a potential rate increase. The pound found relief as British inflation cooled, but traders remained cautious ahead of U.S. CPI data, which could influence the Federal Reserve's rate cut decisions. Japanese government bond yields rose, pushing the dollar lower against the yen.

Courtesy: theprint.in