Bank of Japan 'to accelerate rate hikes'
Just weeks after hitting four-decade lows, the yen reached a seven-month high. Jane Foley of Rabobank told Reuters the market now expects the BOJ to pick up the pace of rate hikes, although she still sees 50 basis points next week as unlikely.
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AI GeneratedThe Japanese yen has surged to a seven-month high as markets anticipate interest rate hikes from the Bank of Japan (BOJ) following strong economic growth and real wage data. This shift is triggering an unwind of the \"carry trade,\" where investors borrow cheap yen to invest in higher-yielding assets, leading to increased volatility in global currency markets.
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