Market News
Yen weaker in thin trading as traders stay alert to intervention risk - REUTERS
Summary
- Yen weakens despite Bank of Japan rate hike
- Japan proposes record spending, curbs debt issuance
- Fed funds futures traders expect rate cuts next year
NEW YORK, Dec 26 (Reuters) - The Japanese yen softened against the greenback on Friday as investors remained on watch for potential intervention to shore up the currency, while the dollar gained slightly against the euro in thin trading volumes.
The yen has remained on the back foot despite a Bank of Japan interest rate hike last week, on concerns about expansive fiscal policy in the country.
Japan's government on Friday proposed record spending for next fiscal year while curbing debt issuance, underscoring Prime Minister Sanae Takaich
