1315 GMT - The Japanese yen could rise further given the prospect of the Bank of Japan raising interest rates by more than markets expect, Rabobank's Jane Foley says in a note. "The market consensus that the BOJ will hike interest rates again this year at an extremely modest pace is being tested," she says. Japanese wage growth data overnight was stronger than expected and BOJ former executive director Hideo Hayakawa told Bloomberg rates could rise more than markets predict. The summary of policymakers' opinions at the January BOJ meeting also signalled further rate rises. Rabobank retains a medium-term USD/JPY forecast of 145.00. USD/JPY falls 0.9% to 152.908, having earlier reached a near eight-week low of 152.555, according to FactSet.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 08:16 ET (13:16 GMT)
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