Yen Edges up Amid Prospects of BOJ September Rate Rise
Dow Jones
Yesterday
1023 GMT - The Japanese yen rises as markets raise their expectations of the Bank of Japan increasing interest rates in September. Investors increased their bets of a BOJ rate rise next month after Japan's services producer-price inflation data for July was stronger than expected at an annual rate of 3.6%, MUFG's Derek Halpenny says in a note. Conviction in the market of an upcoming BOJ rate hike strengthened after the data and this also contrasts with easing expecations for a U.S. rate hike, he says. Investors price in a 70% chance of a BOJ rate increase in September and only a 40% possibility of a hike by the Federal Reserve next month, LSEG data show. The dollar falls 0.1% to 158.97 yen.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.