The yen weakens against most other G-10 and Asian currencies amid concerns over the Japanese government's possible pushback against Bank of Japan rate increases. A media report says the "draft of [Japan] PM Takaichi's basic policy guidelines is expected to show BOJ working closely with the government to confirm a positive cycle of wages and prices and sustainability," MUFG Bank's Michael Wan notes. This has spurred worries over the extent of potential government pushback against BOJ rate hikes, the senior currency analyst says in a research report. The dollar is 0.1% higher at 162.17 yen after earlier touching 162.40 yen, highest intraday level since 1986, FactSet data show. The Singapore dollar is 0.1% higher at 125.36 yen. (ronnie.harui@wsj.com)
Dow Jones Newswires
Yen Weakens Amid Concerns Over Possible Government Pushback Against BOJ Rate Increases — Market Talk
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The yen weakens against most other G-10 and Asian currencies amid concerns over the Japanese government's possible pushback against Bank of Japan rate increases. A media report says the "draft of [Japan] PM Takaichi's basic policy guidelines is expected to show BOJ working closely with the governme…