Reported about 6 hours ago
The yen briefly exceeded the critical 150 level against the dollar, driven by expectations that the Bank of Japan may raise interest rates in December following hotter-than-expected Tokyo inflation data. The recent data suggests the Japanese economy is aligning with the BOJ's forecasts, with the swaps market indicating a 63% chance of a rate hike. Additionally, a weaker dollar and low liquidity attributed to the U.S. Thanksgiving holiday contributed to the yen's gains. Overall, this week has seen the yen rally about 3%, positioning it as the top-performing currency among the G-10.
Source: YAHOO