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Why is the Japanese Yen surging when no one is intervening this time?

The Japanese Yen (JPY) continues to build upward momentum, pushing USD/JPY down to 152.88 before consolidating around 153.26 as markets fully price in a 25-basis-point rate hike from the Bank of Japan (BoJ) in September.

Why is the Japanese Yen surging when no one is intervening this time?

We haven't written up this one. FXStreet has the full story — the link below goes straight to it.

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