The Japanese yen strengthened against other major currencies in the European session on Thursday, as the Bank of Japan (BoJ) chief's remarks reinforced expectations of a rate hike.
BOJ Governor Kazuo Ueda stated on Thursday that he anticipates an improvement in consumption as wage growth picks up steam and the increase in import prices subsides.
The remarks fueled speculation about the BOJ's impending interest rate hike, which raised the yields on Japanese government bonds and the value of the yen.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.