Yen Weakens Despite Hawkish BOJ Outlook

2026-11-10 02:53 By Jam Kaimo Samonte 1 min. read

The Japanese yen slipped to around 158 per dollar on Tuesday, surrendering part of its previous session’s gains as hawkish signals from the BOJ failed to provide sustained support for the currency.

According to the latest Summary of Opinions, policymakers generally agreed that interest rates should continue rising, as underlying inflation has reached levels broadly in line with the central bank’s 2% price stability target.

Some members also called for a faster pace of monetary tightening to bring interest rates closer to neutral, pointing out that businesses have become more resilient to higher borrowing costs.

BOJ Chief Economist Seisaku Kameda added on Monday that the central bank is likely to raise rates in December and maintain its tightening cycle next year.

Meanwhile, Finance Ministry data confirmed that Japanese authorities intervened in the foreign exchange market in late July to support the yen, purchasing a record ¥15.4 trillion over a three-day period.



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Yen Weakens Despite Hawkish BOJ Outlook
The Japanese yen slipped to around 158 per dollar on Tuesday, surrendering part of its previous session’s gains as hawkish signals from the BOJ failed to provide sustained support for the currency. According to the latest Summary of Opinions, policymakers generally agreed that interest rates should continue rising, as underlying inflation has reached levels broadly in line with the central bank’s 2% price stability target. Some members also called for a faster pace of monetary tightening to bring interest rates closer to neutral, pointing out that businesses have become more resilient to higher borrowing costs. BOJ Chief Economist Seisaku Kameda added on Monday that the central bank is likely to raise rates in December and maintain its tightening cycle next year. Meanwhile, Finance Ministry data confirmed that Japanese authorities intervened in the foreign exchange market in late July to support the yen, purchasing a record ¥15.4 trillion over a three-day period.
2026-11-10
Yen Strengthens on Hawkish BOJ Signals
The Japanese yen strengthened toward 158 per dollar on Monday, recovering some of last week’s losses as hawkish comments from Bank of Japan officials strengthened expectations for additional interest rate hikes. BOJ Chief Economist Seisaku Kameda indicated that the central bank is likely to raise rates in December and continue tightening monetary policy next year, potentially bringing borrowing costs closer to 2%. BOJ Governor Kazuo Ueda also noted that underlying inflation is expected to remain near the central bank’s 2% target, while acknowledging the presence of “some upside risks.” Meanwhile, Finance Ministry data confirmed that Japanese authorities intervened in the foreign exchange market in late July to support the yen, purchasing a record ¥15.4 trillion over three days. Japan and the US had previously confirmed their coordinated intervention on July 31, marking their first joint currency market operation to strengthen the yen since 1998.
2026-11-09
Yen Holds Gains on Strong Wage Data
The Japanese yen traded around 157.8 per dollar on Friday after rising for two straight sessions, as data showed that nominal wages in Japan rose at their fastest pace in nearly three decades, strengthening expectations of another Bank of Japan interest rate hike in December. Minutes from the BOJ’s September meeting also suggested that the central bank could accelerate monetary tightening as it assesses the effects of developments in the Middle East, rising AI-related demand and foreign exchange movements. The BOJ raised its policy rate to a 31-year high of 1.25% in September before leaving it unchanged in October, while indicating that underlying inflation had reached its 2% target. The yen also benefited from safe-haven demand amid an intensifying global equity selloff, fueled by concerns over tighter AI industry regulation following a sweeping Democratic victory in the US midterm elections.
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