By Tom Westbrook

SINGAPORE (Reuters) -The dollar was riding high on Thursday after notching its sharpest gain in six weeks as Fed minutes made a December U.S. rate cut seem less likely, while the yen tumbled on bets that Japan would not immediately step in to stem its weakness.

The yen fell 1% to a 10-month low of 157.18 per dollar overnight in a slide that began after Finance Minister Satsuki Katayama said there was no specific discussion on foreign exchange at a meeting with Bank of Japan Governor Kazuo Ueda.

The yen is down around 6% since Prime Minister Sanae Takaichi was elected leader of her party, in spite of rising Japanese yields, as markets are uneasy about the scale of borrowing needed to fund her stimulus plans.

“You must either believe that there’s a ‘Sell Japan’ narrative

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