Yen Retreats After BOJ Hikes Rates, Ueda Leaves Options Open
- Yen erases initial gain as timing for next hike is unclear
- Risk of three BOJ hikes this year rising, RBC’s Tan says
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The yen slipped, erasing earlier gains, as Bank of Japan Governor Kazuo Ueda offered little guidance on the timing of the next interest-rate hike.
The Japanese currency fell 0.3% to the day’s low of 156.58 per dollar as of 1:07 p.m. in London, wiping out a gain of 0.8% after the BOJ delivered its first hike since July. Ueda said the likelihood of realizing the BOJ’s economic outlook is rising.