The yen strengthened on Wednesday as investors firmed up bets that the Bank of Japan will exit stimulus in coming months, while the dollar broadly held its ground against major rivals amid expectations that the Federal Reserve won’t rush to cut interest rates. The Japanese currency gained as much as 0.41% to 147.76 per dollar during Tokyo trading hours as Japanese government bond yields leapt to six-week highs after central bank chief Kazuo Ueda said on Tuesday that the prospects of achieving the BOJ’s inflation target were gradually increasing.
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