Japanese yen surges to seven-month high on strong economic data, fueling BOJ rate hike speculation

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Japanese yen surges to seven-month high on strong economic data, fueling BOJ rate hike speculation

⚡ Markets: A potential end to Japan's ultra-loose monetary policy would have global ramifications, repatriating Japanese capital and raising global borrowing costs. Strongly bullish for JPY, bearish for Japanese equities (Nikkei), and could pressure global bond markets.USDJPYJPYNikkei 225

The yen appreciated sharply against the US dollar, touching the 152 level, after data showed Japan's Q2 GDP growth was revised higher and July wages grew at the fastest pace since 1997. The strong data increases expectations that the Bank of Japan will soon raise interest rates.

West MSM 2Financial press 11Regional 4West Right 1Google Non-West 14 countries

19 sources across the spectrum

Financial pressNikkei Asia — Yen makes sudden jump to 154 range against dollar

Financial pressCNBC — Japan's foreign reserves drop by a record $80 billion in August following yen intervention

Financial pressWall Street Journal — Yen Hits Six-Month High Against Dollar on BOJ Rate-Hike Bets

RegionalJapan Times — Japan’s faster GDP, wage growth support BOJ interest-rate hike

West MSMReuters — Asia stocks waver as yen surges, Iran warns of retaliation

Financial pressNikkei Asia — Yen appreciates sharply against the dollar, touching the 152 level

Financial pressNikkei Asia — Yen appreciates sharply against dollar, touching 153-level

RegionalJapan Times — Japan’s wages grow most since 1997, keeping BOJ on rate-hike path

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