Yen Soars as Markets Bet on BoJ Hike

The Japanese yen has been outperforming its G10 peers, rising by 0.4% against the US dollar to trade near 155.65 as of Thursday's North American session.

This move comes as markets have repriced towards a Bank of Japan (BoJ) hike in recent weeks, reflecting a shift away from FX intervention and towards a more fundamentally driven stance.

The relative central bank policy outlook remains supportive for the yen, with expectations building for a more aggressive BoJ tightening path.

Key technical levels to watch include support at 153 and 152, while the upside focus has moved to 158 after the pair broke through 155.