Yen Strengthens on Prospects of Two BOJ Rate Hikes by Year-End

Dow Jones
昨天

0023 GMT - The yen strengthens against the dollar and other currencies in early trade on the prospect that the BOJ may hike rates twice by year-end. "Odds for a September hike over the past month have jumped from around 65% to 98%, and an additional hike by December is now nearly priced in," LPL Financial's Adam Turnquist says in an email. Japan's "better-than-expected GDP, rising inflation, and wage growth near 30-year highs have underpinned the hawkish repricing," the chief technical strategist says. The U.S. dollar falls 0.5% to 153.25 yen and the Australian dollar drops 0.4% to Y110.67, LSEG data show.

 

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