1 month, 4 weeks ago

Yen gains; Aussie, kiwi steady before rate decisions

By Rae Wee SINGAPORE - The yen rose on Monday in a boost from upbeat Japanese GDP data, while the Australian and New Zealand dollars held broadly steady ahead of policy decisions later in the week. The dollar was on the back foot as traders assessed recent weaker-than-expected U.S. economic data which have reignited bets for more Federal Reserve rate cuts this year. The yen was last 0.27% stronger at 151.94 per dollar, reversing losses from earlier in the session after data on Monday showed Japan's economy expanded faster than expected in the fourth quarter - cementing the case for more rate hikes from the Bank of Japan this year. "And then the data, of course, playing to the idea that maybe the U.S. exceptionalism is running out of steam, so it's weighing on the U.S. Down Under, the Australian dollar ticked 0.07% higher to $0.6357, ahead of a rate decision from the Reserve Bank of Australia on Tuesday.

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