Selling the dollar and buying the yen accelerated sharply in the New York market, with the yen briefly rising to the low ¥158 range per dollar. Expectations of a Bank of Japan rate hike are strengthening.
In the New York foreign exchange market on the 2nd, there was a period of sharply accelerated selling of the dollar and buying of the yen, with the yen briefly rising to the low ¥158 range per dollar.
One factor behind the market movement is growing expectations that the Bank of Japan may accelerate the pace of interest-rate hikes.
This article reports on the situation in which expectations of a Bank of Japan rate hike affected the yen exchange rate.