Yen Strengthens as Traders React to BOJ Speech
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The yen increased in value against the dollar following comments from Bank of Japan Deputy Governor Ryozo Himino, leading to fluctuations in Japanese government bond yields.
The yen extended gains and Japanese government bond yields rose as traders priced a potentially hawkish steer from Bank of Japan Deputy Governor Ryozo Himino's speech on Thursday.
The Japanese currency strengthened as much as 0.6% to 154.32 against the dollar, making it the best performer against the US currency among its Group-of-10 peers. JGB futures dropped as much as 31 ticks to 140.84. The movements also followed the BOJ's efforts to shrink its balance sheet.
