The Japanese Yen extends gains as traders expect the BoJ to raise rates next week.
Toshimitsu Motegi, a senior official in the ruling party, urged the BoJ to communicate its plan to normalize monetary policy.
Media reports indicate that Vice President Kamala Harris has now surpassed 1,976 Democratic delegates, securing the party's presidential nomination.
The Japanese Yen (JPY) extends its gains for the second successive session on Tuesday, which could be attributed to the increased risk aversion. Traders assess the interest rate decision by the Bank of Japan (BoJ) next week, where an interest rate hike might be on the table to support the JPY.
Toshimitsu Motegi, a senior official in the ruling party, urged the Bank of Japan (BoJ) to more clearly communicate its plan to normalize monetary policy through gradual interest rate hikes, highlighting that excessive Yen declines were adversely affecting the economy, according to Reuters. Prime Minister Fumio Kishida added that normalizing the central bank’s monetary policy would support Japan's transition to a growth-driven economy.
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