The yen hovers near a two-week high on reports that the Bank of Japan could make changes to its bond yield policy tool. The dollar remains steady, supported by expectations of another rate hike from the Federal Reserve.
SINGAPORE - The yen hovered near a two-week high on Tuesday, boosted by a report that the Bank of Japan could further tweak a key bond yield policy tool when it announces its monetary decision later in the day.
"This of course may prove to be something of a red herring, and they may leave policy unchanged, instead offering a strong view that changes to the yield curve control cap are imminent," said Chris Weston, head of research at Pepperstone. In other currencies, the dollar edged broadly lower following a pick up in risk appetite, with Israel's ground offensive in Gaza seemingly less extensive than previously feared.Armoured Israeli forces attacked the Gaza Strip's main city from two directions on Monday and targeted the main road linking it to the south of Gaza, witnesses said.
Data on Monday showed inflation in Germany eased noticeably in October, while a separate report the same day showed Europe's largest economy shrank slightly in the third quarter. The New Zealand dollar lost 0.15% to stand at $0.5835 and was set for a 2.7% decline for October, pressured by fragile risk sentiment globally and as a surprisingly low reading of domestic inflation in the third quarter lessened the chance of another rate hike.Bill Gates' former assistant is the world's 5th-richest person — and he's close to overtaking the Microsoft cofounder
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