Yen strengthens as BOJ leaves door open to December rate hike

But domestic and international political uncertainties are keeping investors in check

Political uncertainty in both Japan and the U.S. has been overshadowing financial markets. (Photo by Mizuho Miyazaki)

LISA KIM, Nikkei staff writer

October 31, 2024 12:35 JST

Updated on October 31, 2024 17:19 JST

TOKYO -- The Japanese yen strengthened after Bank of Japan Gov. Kazuo Ueda suggested at the end of a two-day policy meeting on Thursday that a rate hike in December is possible.

The currency gained as much as 0.45% to 152.05 to the dollar from around 153.30 at the start of Ueda's press conference. The currency had recorded minor losses and gains before the presser, and was at 152.50 when it wrapped up.