SINGAPORE : The yen weakened after the Bank of Japan kept stimulus settings steady on Friday, while the dollar paused its ascent after a rise in U.S. jobless claims tempered expectations of further aggressive rate hikes from the Federal Reserve.The yen was last down about 0.15 per cent at 136.36 after a k
SINGAPORE : The yen weakened after the Bank of Japan kept stimulus settings steady on Friday, while the dollar paused its ascent after a rise in U.S. jobless claims tempered expectations of further aggressive rate hikes from the Federal Reserve.
While many analysts see the days of the BOJ's bond yield curve control as numbered, recent policymakers' speeches have underscored their preference to hold off on big policy changes at least until Kuroda's successor, Kazuo Ueda, takes the helm in April.Against a basket of currencies, the U.S. dollar index was little changed at 105.28 but remained on track for a weekly gain of 0.73 per cent.
Nonetheless, the jump in jobless claims was enough to cause traders to unwind some bets that U.S. rates would rise much higher than previously expected. Futures pricing now implies a roughly 54 per cent chance that the Fed will raise rates by 50 basis points this month, compared with 70 per cent before the data release.
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