Yen soars as Bank of Japan tipped to raise interest rates
The Japanese yen surged against the dollar following signals from the Bank of Japan that it may accelerate interest rate hikes. Global markets remain volatile as investors reassess monetary policy expectations amid broader economic concerns.
Why it matters
Fluctuations in the yen impact global currency markets and investor sentiment, reflecting broader uncertainty about central bank policies.
The Tokyo skyline. Investors have been reassessing their expectations for the future path of interest rates in Japan and other major economies./Getty Images The Tokyo skyline. Investors have been reassessing their expectations for the future path of interest rates in Japan and other major economies./Getty Images Yen Yen soars as Bank of Japan tipped to raise interest rates Jump lifts currency to highest level against dollar in a month, while global markets remain jittery
Prefer the Guardian on Google The Japanese yen has soared by more than 1.7% against the dollar amid speculation the Bank of Japan is set to raise interest rates.
The latest jump on Thursday lifted the yen to its highest level against the dollar in a month, at 155.85, and followed a 0.9% move the previous day.
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