Forex
BOJ Hike Expects to Boost Yen Ahead of Friday's Rate Decision
The USD/JPY exchange rate rose to 155.09 on Tuesday afternoon, up 0.48% from Monday's close and extending a rebound from its seven-month low of 153.40 reached last Thursday.
The pair traded at 155.17 early in the U.S. morning, up 0.54%, and has gained 0.79% over the past week.
The dollar's recovery came as the 10-year Treasury yield topped 5% and the dollar index climbed to 99.64, up 0.25%.
The BOJ is expected to hike its policy rate by 25 basis points to 1.25% on Friday, its highest level in roughly 31 years, following a hike in June.