1353 GMT - The Japanese yen could lose some of its current strength as the year progresses, Commerzbank Volkmar Bau says in a note. There is limited scope for expectations of increases in interest rates by the Bank of Japan to offer further support to the Japanese currency, he says. Japan's stronger-than-expected fourth-quarter economic growth data should satisfy the BOJ, with further rate rises likely in summer, he says. However, "such a move is now almost fully priced into the market for July, and this has provided significant support for the yen in recent weeks." This means the yen shouldn't rise much further. USD/JPY falls 0.5% to 151.512 after earlier hitting a one-week low of 151.403, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 08:53 ET (13:53 GMT)
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