Yen rises on speculation of BOJ policy shift

Yen rises on speculation of BOJ policy shift

TOKYO -- Unlike its peers in the U.S. and Europe, Japan's central bank has not been raising interest rates to tame inflation and has stuck to its ultraloose monetary policy, which has kept the yen weak. But the market appears to sense a change.
 
The Japanese currency appreciated to the low 140 range against the greenback at one point Tuesday, strengthening by more than 4 against the dollar over the past week.
 
Fueling this change in direction is speculation that the Bank of Japan will shift course. Recent wage and price data seems to justify an adjustment at the next policy meeting, taking place at the end of this month.
 
Analysts say that if U.S. data due on Wednesday confirms slowing inflation there, the yen could see an additional boost.