Yen Strengthens as Traders Reduce Bets Before BOJ's Interest-Rate Decision

(Bloomberg) -- The yen gained against the dollar and
the euro as traders reduced risk before a two-day Bank of Japan
interest-rate meeting ends today.

The Japanese currency benefited from speculation policy
makers will signal the central bank may raise borrowing costs as
soon as next month after leaving them on hold today at 0.5
percent. A survey of 34 economists showed 21 expect the BOJ to
raise the rate to 0.75 percent in August.


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Yen Erases Gains on Speculation It Has Rallied Too Far, Too Quickly

(Bloomberg) -- The yen erased gains against the
dollar and the euro as a technical chart indicated its advance in
the past two days has been too fast.

Against the euro, the Japanese currency traded at 167.40,
after rising to as much as 166.51, and was at 121.77 versus the
dollar, down from 120.99 in Asian trading.


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Platinum Futures Drop in Tokyo; Spot Price Up on South Africa Wage Talks

(Bloomberg) -- Platinum futures fell in Tokyo as
the Japanese currency strengthened against the dollar. Metal for
immediate delivery gained on concern wage talks in South Africa,
the world's biggest producer, will lead to supply disruptions.

The yen increased to 123.45 per dollar at 12:10 p.m. in
Singapore from 123.67 late in New York yesterday, after reaching
a 4 1/2-year low of 124.13 on June 22.


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Yen Drops to Record Low Against Euro as Interest Rate Spurs Carry Trades

(Bloomberg) -- The yen dropped to a record low
against the euro and sank to the weakest in more than four years
versus the dollar as investors sought higher-yielding assets
funded by loans in Japan.

The Japanese currency also declined to a 15-year low versus
the British pound as the nation's lowest interest rates among
major economies encouraged the so-called carry trades. The Bank
of Japan kept borrowing costs at 0.5 percent last week and
signaled further increases will be gradual.


Read more at Bloomberg Currencies News