Yen Reaches Seven-Month High as Expectations Grow for Another BOJ Rate Hike

The yen extended a roughly 4% gain in September and traded around 153 per U.S. dollar, remaining near its strongest level in about seven months. Market expectations increased that the Bank of Japan would raise its policy rate by another 25 basis points at its September 17–18 meeting, while the yen's rapid appreciation also drew attention to a potential unwinding of yen-funded carry trades.

• Bank of Japan