Forex
Yen Soars 2% Amid BOJ Hike Bets, Fed's Waller Suggests Steady Rates
The Japanese yen experienced a significant surge of 2% against the US dollar on Thursday as market participants increased their bets on an interest rate hike by the Bank of Japan. This development came after data from the BOJ revealed that there was no official intervention behind the currency's sharp gains on Wednesday.
Meanwhile, Federal Reserve Governor Christopher Waller weighed in on the situation, stating that if upcoming data confirms cooling inflation pressures, he would argue in favor of keeping interest rates steady at the Fed's next policy meeting. This comment added to the dollar's losses.