SINGAPORE, Sept 12 — The yen steadied near a one-week high today as comments from Japan’s top central banker on a possible end to its negative interest rate policy reverberated through markets, while the dollar regained some lost ground.
“Essentially, Governor Ueda laid out a conditional path and timeframe for the first-rate hike and a move away from its negative interest rate policy, should the data permit,” said Chris Weston, head of research at Pepperstone. Elsewhere, the US dollar reversed some of its close to 0.5 per cent loss against a basket of currencies yesterday.
The US dollar index, which ended last week with an eight-week winning streak, rose 0.03 per cent to 104.60, after falling 0.46 per cent in the previous session. Sterling steadied at US$1.2508.