In the foreign exchange market on the 8th, the yen briefly reached ¥152 per dollar, strengthening to a level not seen for about six months. Market expectations regarding the Bank of Japan's pace of interest-rate hikes are growing.
In the foreign exchange market on the 8th, the yen briefly reached ¥152 per dollar, a level not seen for about six months, since February this year. The yen's strengthening was reportedly attributed in part to increased dollar-buying and yen-selling activity.
Market participants have pointed to growing expectations that the Bank of Japan may accelerate the pace of interest-rate hikes, saying this is affecting movements in the foreign exchange market.
The yen was reported to have briefly strengthened to the ¥154 range against the dollar in the foreign exchange market, while there were also reports that it had briefly reached the ¥156 range on 3 September.
The latest move may have been influenced by the outlook for the Bank of Japan's monetary policy and interest-rate trends in international markets.