Japanese government bond futures erased earlier losses and rose on Monday after the Group of Seven big industrialised economies expressed concern about a rapid rise in the yen against other currencies. Finance ministers and central bankers from the Group of Seven said in a joint statement on Monday that they were concerned about excessive volatility in the yen and the possible adverse implications for economic and financial stability.
Analysts said the statement fell short of any mention of monetary policy action by the Bank of Japan but stirred expectations that the BOJ could cut interest rates in coming months in an effort to shelter the economy. December 10-year JGB futures rose 0.56 point to 138.26 after sliding as much as 0.50 point earlier in the day.
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