Yen Outperforms Major Currency Peers as BOJ Rate Hike Bets Grow
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The yen outperforms all its major peers ahead of the Bank of Japan’s widely anticipated move to lift its benchmark interest rate this week, as traders await key US economic data.Japan’s currency gained as much as 0.4% to 154.68 against the dollar, while dollar-yen’s 1-week implied volatility rose to its highest since November. The move comes after confidence among Japan’s large manufacturers rose to the strongest level in four years, reinforcing market expectations the BOJ will raise interest rates to the most since 1995.