0555 GMT - The yen strengthens against G-10 and Asian currencies in the afternoon session on the prospect of narrowing interest-rate gaps between Japan and most other countries like the U.S. The Bank of Japan continues its monetary-tightening path, especially as inflation stays above target levels for longer than expected, XS.com's Rania Gule says in an email. Expectations of a BOJ rate hike have kept JGB yields elevated, boosting demand for the yen, senior market analyst says. Meanwhile, the Fed seems to be taking the opposite approach amid rising bets that the U.S. central bank will cut rates multiple times this year to counter a potential economic slowdown, the analyst adds. USD/JPY falls 0.3% to 147.75; AUD/JPY drops 0.6% to 93.13. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 13, 2025 01:55 ET (05:55 GMT)
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