Against a backdrop of expectations for higher wages and interest-rate hikes in Japan, the yen strengthened to ¥154 per US dollar. Reports from Tokyo markets on the 4th said expectations of a Bank of Japan (BOJ) rate hike had supported the yen.
The yen reportedly strengthened to ¥154 per US dollar as expectations for higher wages and interest rates in Japan grew stronger.
Reports on the 4th showed people in Tokyo passing in front of a monitor displaying exchange rates, alongside observations that the yen had risen to the ¥156 range.
The move has been attributed to expectations of improving wages in Japan and higher interest rates, and attention is reportedly focused on future market developments.