(Bloomberg) -- The yen extended losses to 1% against the dollar on news that the Bank of Japan is likely to keep its monetary stimulus settings unchanged at a two-day policy meeting ending Dec. 19.

The pair traded at 146.40 at 5:06 p.m. in Tokyo after the Bloomberg report that officials see little need to rush into scrapping the world’s last negative interest rate this month. 

The pair had touched 141.71 last week, the strongest level for the yen in four months after comments from BOJ Governor Kazuo Ueda and one of his deputies Ryozo Himino boosted bets for an early policy tweak by the central bank.

Read more: BOJ Is Said to See Little Need to End Negative Rate in December

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