Reported 10 months 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