The yen temporarily strengthened to the ¥157-per-dollar level in the Tokyo foreign exchange market, setting a new low since the intervention at the end of July. Expectations are growing in the market that the Bank of Japan will accelerate the pace of rate hikes.
The yen in the Tokyo foreign exchange market temporarily reached the ¥157-per-dollar level, its lowest level since the yen-buying intervention at the end of July. The article reports that the exchange rate temporarily reached this level.
Following this move, expectations are growing among market participants that the Bank of Japan will accelerate the pace of rate hikes.
The article cites reporting by FNN Prime Online as its source and provides additional information on specific figures and timing.