Market News
Yen falls despite rate hike talk; sterling steady in run up to UK budget - REUTERS
Summary
- BOJ eyes rate hike as soon as next month - sources
- New Zealand dollar surges on hawkish RBNZ tilt
- Traders anticipate December Fed cut, weigh new Fed chair
- Sterling steadies ahead of UK budget announcement
SINGAPORE/LONDON, Nov 26 (Reuters) - The yen softened on Wednesday even as expectations rose that the Bank of Japan could hike rates next month, while sterling held steady ahead of Britain's budget and investors pondered what Kevin Hassett as next Fed chair could mean for the dollar.
The BOJ is preparing markets for a possible interest rate hike as soon as next month, sources told Reuters, reviving previous hawkish language as worries about sharp yen declines return and political pressure to keep rates low fades.
