Economic news

Yen rebounds after touching five-week trough

The yen reversed early losses against the dollar to trade at 111.86 on Friday.

Photo: Reuters

The greenback has risen 2.24 percent against its Japanese peer over the last 10 trading sessions due to the diverging monetary policies of the central banks.

While the Fed is on course to increase interest rates, the BOJ is widely anticipated to hold its ultra loose monetary policy due to weak growth and inflation.

The extended interest rate differential between U.S. and Japanese bonds has triggered the demand for a buck, while the yen has been hurt by such circumstances.

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