Yen Climbs to Two-Week High As Crucial BOJ Decision Approaches
- Options traders bet on further strength in short-term
- Broad dollar weakness, threat of intervention boosted yen
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The yen is seeing a respite from recent heavy selling as traders reconsider the pace of US rate hikes and prepare for Friday’s key Bank of Japan policy decision.
The Japanese currency climbed 0.6% to around 145.50 per dollar in Tokyo trading Thursday. It has rallied over 4% from a three-decade low reached Friday, when suspected intervention from Japan drove it higher from just under the 152 level.