The yen is extending its gains in the New York foreign exchange market. According to sources familiar with the matter, a 0.25% rate hike is considered likely at the Bank of Japan's monetary policy meeting this month.
The yen is being bought in the New York market and is reported to be holding up relatively well even amid a lack of factors supporting yen weakness.
Market attention is focused on the Bank of Japan's monetary policy meeting scheduled for this month, with expectations of unchanged rates and a rate hike vying for attention.
According to sources familiar with the matter, information has emerged that a 0.25% rate hike at the meeting is considered likely.