Currencies
Yen Breaches Key 150 Level as Tokyo Inflation Fuels BOJ Bets
- Japanese currency reaches strongest vs dollar since October
- Swaps pricing in more than 60% chance of rate hike in December
he Japanese currency surged as much as 1% to 149.999, its strongest level since October.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The yen briefly breached the key level of 150 against the dollar as traders positioned for a stronger likelihood of the Bank of Japan raising interest rates in December while the Federal Reserve cuts US borrowing costs.
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