Skip to content
Subscriber Only

Yen Advances to 18-Month High as Dollar Drops on Fed Outlook

  • Japan's currency gains for fourth day since BOJ met last week
  • `Markets continue to brood post-BOJ,' Mizuho's Varathan says
Video player cover image

Will Next Jobs Report Force the Feds Hand?

Updated on

The yen climbed to the strongest level in 18 months against the dollar as declines in Asian shares and signs the Federal Reserve will delay raising interest rates boosted Japan’s currency.

The yen appreciated against all its 16 major counterparts, extending gains to a fourth day versus the greenback since the Bank of Japan unexpectedly refrained from adding to currency-weakening stimulus last week. The dollar declined as traders cut bets the Fed will increase rates this year. Japanese financial markets are shut Tuesday for the first day of a three-day holiday.