Yen Surges as BOJ Rate Hikes Loom

The yen has surged to its strongest level in seven months against the US dollar, trading as high as 152.89.

This comes after a recent joint intervention by US and Japanese authorities to steady the currency.

Data released on Tuesday showed Japan's economy grew faster than initially estimated in the April to June quarter, alongside real wage growth figures that reinforced expectations of further interest rate hikes from the Bank of Japan.

The yen's gains weighed on the stock market, with the Nikkei 225 up 0.3% and MSCI's broadest index of Asia-Pacific shares outside Japan 0.5% higher.