USD/JPY Rises Sharply Amid Rate Hike Expectations
The USD/JPY currency pair has been on an upward trend this week, driven by broad dollar strength and expectations of a potential interest rate hike from the US Federal Reserve.
The pair opened at 156.98 and initially fell to a low of 156.59 on September 21 during Japan's extended holiday, but then rose steadily to around 157.50 on September 22.
It continued to rise after the holiday on September 24, reaching a high of 159.03, before pulling back below 158.50 following comments from Finance Minister Satsuki Katayama on September 25.