Yen Surges to Seven-Month High on Tightening Bets and Repatriation
The yen has reached a seven-month high against the dollar after traders reassessed their outlook on the Japanese currency.
Bets on faster Bank of Japan tightening and expectations that Japanese investors may shift funds home have driven the yen's surge.
Lee Hardman, senior currency analyst at MUFG, said breaking past the 155 level is a bullish signal for the yen, which could see further upside.
The dollar fell by 1.14% against the yen on Monday to 154.42, its lowest since February.