Yen Hits 6-Month High Below 153 as BOJ Hike Bets Build on Strong Japan Data
Updated
Updated · investinglive.com · Sep 8
Yen Hits 6-Month High Below 153 as BOJ Hike Bets Build on Strong Japan Data
3 articles · Updated · investinglive.com · Sep 8
Summary
USD/JPY dipped below 153.00, sending the yen to a six-month high as traders ramped up expectations for a Bank of Japan rate hike next week.
Japan’s upwardly revised Q2 GDP and strongest wage growth since 1997 reinforced the tightening case, while speculation over a GPIF asset-allocation shift added support for the currency.
The stronger yen capped Japanese stocks, leaving the Nikkei up just 0.07%, while South Korea’s Kospi climbed nearly 2% on broad-based buying.
AUD and NZD softened after weak Australian business data, a reported halt in some Rio Tinto iron-ore talks with Chinese mills, and dovish RBNZ comments.
China’s August trade figures kept the broader regional backdrop mixed: exports matched forecasts, but imports rose 28.2% versus a 30% forecast, underscoring still-soft domestic demand.