Amid reports of intervention by the Japanese government, the yen strengthened against the dollar in the FX market, rising to around ¥156 to the dollar. Expectations of additional Bank of Japan rate hikes are reportedly behind the move.
According to reports by Japanese media, the yen continued to strengthen against the dollar in the foreign exchange market, temporarily rising to around ¥156 to the dollar. It has been reported that market expectations of additional Bank of Japan rate hikes are growing.
The report is based on information conveyed by the Chinese media outlet Yicai. With government intervention once again becoming a topic of discussion, it indicates that the yen’s movement has been strengthening.