Yen Soars to Month-High as Traders Bet on BOJ Rate Hike

The Japanese yen is experiencing its strongest week in over a month, rising by nearly 2.5% against the U.S. dollar as traders anticipate an interest rate hike from the Bank of Japan.

This development has been driven by increased bets on a BoJ rate increase, which has put upward pressure on the yen's value.

Meanwhile, currency markets worldwide are keeping a close eye on the upcoming U.S. payrolls data, expected to be released soon.