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The Japanese Yen continued to strengthen against the US Dollar on Friday morning, moving into the 155 range, amidst market speculation that the Bank of Japan (BOJ) might accelerate its pace of interest rate hikes.
The Japanese Yen strengthened against the US Dollar, moving beyond 157 yen from the previous day, amidst market speculation that the Bank of Japan (BOJ) might accelerate its pace of interest rate hikes. Furthermore, the market believes that a rare August meeting of Japan's public pension funds could lead to increased purchases of yen-denominated assets. The sharp appreciation of the yen may also signal a reversal of carry trades.
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