Yen Rallies, Dollar Wobbles Before Central Bank Meetings

Currency markets showed shifting signals across separate trading sessions. In one report, the yen strengthened as investors trimmed dollar positions ahead of central-bank meetings, with doubts about the U.S. growth and rate outlook—including concerns around AI-related stocks and debt—undermining confidence in the dollar. In another session, the dollar was rangebound and the yen little changed or weaker as modestly improved risk appetite supported higher-yielding currencies. Political and fiscal tensions in France added uncertainty and helped limit a broader move away from the dollar.