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Forex

Yen Tumbles to 155 Range Amid FOMC Rate Hike Bets

Guavy AI Editorial Team
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USD JPY
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The yen fell to its lowest level against the dollar in New York trading on September 15th, as market participants expected a rate hike from the Federal Open Market Committee (FOMC) later that week.

The pair finished the session at ¥155.21 after briefly recovering to ¥154.83 in morning trading, indicating a strong demand for the dollar and selling pressure on the yen.

The FOMC meeting's rate hike expectations were reinforced by persistently high crude oil futures prices, which continue to drive inflationary pressures, and the US-Japan interest rate differential, which is expected to remain wide.

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