Mumbai, Dec. 4 -- The Japanese yen strengthened toward 155 per dollar, staying near a two-week high as expectations rose for a Bank of Japan rate hike this month. Governor Kazuo Ueda signaled that the central bank will weigh the pros and cons of raising rates at its December 18-19 meeting, noting that real interest rates remain deeply negative even with another hike. A weaker US dollar also supported the yen after softer US private payrolls boosted bets on a Federal Reserve rate cut next week. Traders now await US job cuts data and weekly jobless claims, while the upcoming US PCE Price Index on Friday is expected to guide near-term moves in the USD/JPY pair.

Published by HT Digital Content Services with permission from Capital Market....