India, Feb. 17 -- The Japanese yen strengthened against other major currencies in the Asian session on Monday, after Japan's gross domestic product expanded on quarter in the fourth quarter of 2024.
The strong GDP data led the market to speculate that the Bank of Japan to raise interest rates further this year. The markets are already accounting for an additional 37 basis points of increases by December.
Data from the Cabinet Office said in Monday's preliminary report showed that Japan's gross domestic product expanded a seasonally adjusted 0.7 percent on quarter in the fourth quarter of 2024. That beat forecasts for an increase of 0.3 percent and was up from the upwardly revised 0.4 percent gain in the previous three months.
On an annua...