Yen Jumps Below ¥157 as Traders Price In BOJ Rate Hike
A sudden overnight move pushed the dollar-yen rate under 157, lifting Japan's trading houses and dragging down exporters like Fast Retailing.
The yen strengthened past ¥157 to the dollar after traders raised bets on further Bank of Japan interest rate increases, lifting rate-sensitive Japanese stocks including the country's five major trading houses.
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