The yen rose into the ¥155-per-dollar range in the foreign exchange market for the first time in a month. Expectations of a narrowing interest rate gap between Japan and the United States are strengthening, while views that the Bank of Japan will accelerate its pace of rate hikes are spreading.
The yen rose to around ¥155.80 per dollar in the foreign exchange market, strengthening by more than ¥3 from the previous day. It reached this level for the first time in a month.
Market participants are increasingly focused on the impact of a narrowing interest rate gap between Japan and the United States, and views on future interest rate trends are strengthening, according to some observers. Expectations are also spreading that the Bank of Japan will accelerate its pace of rate hikes as a result.