(Bloomberg) The yen held a three-week decline against the dollar as hedge funds trimmed bullish bets on the Japanese currency by the most since May and speculation increased that the Federal Reserve will raise interest rates this year.
Japan’s currency was little changed after declining 3 percent in the past three weeks as Bank of Japan Governor Haruhiko Kuroda said this month the central bank had no intention of reducing bond purchases and an economic adviser to Prime Minister Shinzo Abe called for a third supplementary budget and closer coordination between monetary and fiscal policy.
