Yen Soars to 7-Month High Amid BOJ Rate Hike Bets

The Japanese yen has reached its highest point in seven months against the US dollar, increasing by 1.14% to 154.42. This rise comes as markets grow more confident in a Bank of Japan rate hike, with about a 75% chance predicted for the September 17-18 meeting.

As the yen strengthens, it may put pressure on carry trades and increase volatility across global stocks and bonds. Japanese authorities are also keeping a close eye on currency movements following recent intervention efforts.