Yen Strengthens on Prospects of Two BOJ Rate Hikes by Year-End
Dow Jones
Yesterday
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.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.