Yen Surges to Seven-Month High as BOJ Hike Bets Intensify
The Japanese yen has reached a seven-month high against the US dollar, appreciating by 1.14% to 154.42.
This strengthening comes as markets increasingly bet on a Bank of Japan rate hike at their September 17-18 meeting, with about a 75% chance of a hike being priced in.
A stronger yen could lead to increased volatility and pressure on carry trades across global stocks and bonds.