The Japanese yen rose in the Asian market on Monday against a basket of global currencies, extending its gains for the second consecutive day against the US dollar, reaching its highest level in three weeks. This came as renewed pressure mounted on yen carry trades, especially following recent comments from central bank governors in Japan and the United States.
Bank of Japan Governor Kazuo Ueda's remarks were more hawkish during his testimony before the Japanese parliament, which strengthened expectations of a third interest rate hike in Japan before the end of this year
