Yen jumps on BOJ hike bets, dollar slips on Waller comments
The Japanese yen surged 2% against the US dollar on Thursday as traders grew confident about a Bank of Japan interest rate increase, while the dollar suffered losses after Federal Reserve Governor Christopher Waller suggested a potential pause in rate hikes. BOJ data showed no intervention behind the yen's gains on Wednesday, indicating traders' expectations of a more aggressive rate hike.
Waller's remarks highlighted potential hawkishness if inflation pressures ease, supporting the dollar's decline. The yen climbed to 155.6 per dollar, nearing a level not seen since May 6. Analysts remain cautious, with 75% odds of a 25-basis-point BOJ hike this month, and some speculating about an even larger increase in October.
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- British Pound rises as Fed’s Waller tempers Fed hike bets before NFP fxstreet.com
- Yen jumps on BOJ hike bets, dollar slips on Waller comments channelnewsasia.com
