1104 GMT - The Japanese yen extends its position as the best performing G-10 currency so far this year as yield differentials between Japan and other major economies narrow, MUFG Bank analysts say in a note. The selloff in Japanese government bonds accelerated recently following signals from Bank of Japan officials about further interest-rate rises, they say. BOJ Governor Kazuo Ueda met with Prime Minister Shigeru Ishiba but rising yields weren't discussed. The sharp rise in yields could attract more attention if it persists, however. That's one risk alongside Japan's Upper House election that could challenge building bets for another rate rise as soon as July. USD/JPY falls 0.8% to 150.324 after earlier hitting a 10-week low of 149.955, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 06:04 ET (11:04 GMT)
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