The yen rose sharply, briefly strengthening to the low ¥156 range per US dollar. Market reports attributed the move to expectations that the Bank of Japan would accelerate the pace of interest rate hikes.
The yen traded sharply higher in the foreign exchange market on the 3rd, rising in response to movements in the New York market.
The yen-dollar rate briefly reached the low ¥156 range, its highest level in one month.
Market participants increasingly expect the Bank of Japan to accelerate the pace of interest rate hikes, and those expectations were cited as a factor behind the yen's movement.