Yen Soars to Best Week Since July Amid Waning Fed Hike Bets

The Japanese yen continued its strong performance, rising to its best week since late July. This comes as Federal Reserve Governor Christopher Waller hinted that he could support keeping interest rates unchanged if inflation continues to ease.

The USD/JPY pair rose 0.3% to 156.36, with the yen having earlier strengthened to 155.25 per dollar, just below the 155.2 level reached last month after July's intervention.

This week's gains have taken the yen close to the level it reached after a rare joint intervention by Japan and the United States in late July.