HONG KONG: The yen extended its rally against the dollar Wednesday (July 31) ahead of a much-anticipated Bank of Japan announcement, with debate centred on whether it will hike interest rates, while equities mostly rose on growing hopes for a cut in US borrowing costs.
With the two biggest economic events of the week looming, traders were jockeying for position as authorities in Tokyo play their cards close to their chest, with comments from Japan's new top forex chief suggesting an increase could be on the cards.
