Reported about 6 hours ago
A significant shift in the currency markets has prompted hedge funds to move away from the dollar and favor the Japanese yen, following encouraging wage data and anticipated interest rate hikes from the Bank of Japan. The yen became the most-traded currency against the dollar, with trading volumes nearly doubling amid a backdrop of declining dollar strength and the prospect of rising rates in Japan. As the dollar weakens, market participants are increasingly drawn to the yen, signaling a potential change in currency dynamics.
Source: YAHOO