Mumbai, Feb. 2 -- The Japanese yen pared earlier losses on Monday, trading around 154.62 per dollar after last week's sharp selloff. The currency had fallen nearly 1% on Friday following President Trump's nomination of Kevin Warsh as the next Federal Reserve chair, a move seen as reinforcing a stronger dollar. Pressure on the yen was compounded by Prime Minister Sanae Takaichi's comments endorsing the benefits of a weaker currency for exporters, while investors brace for volatility ahead of the February 8 snap election. Expectations of fiscal stimulus continue to weigh on the yen and government bonds, even as the Bank of Japan held its policy rate at 0.75%, keeping borrowing costs at their highest level since 1995.

Published by HT Digita...