Japanese Yen Surges Amid Bank of Japan Rate Hike Expectations
2 sources across 2 countries · Japan · United Kingdom
Who reported this
- Kyodo News
- Reuters
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
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The Japanese yen surged over 3 yen against the U.S. dollar during New York trading on Thursday. Market participants attribute the rise to expectations that the Bank of Japan will raise interest rates in mid September. Reuters reported that the yen is headed for its strongest week in a month while the dollar remained flat ahead of payroll data. Many observers believe the Japanese government did not intervene in the foreign exchange market during the New York session because the interest rate differential between Japan and the United States is expected to narrow soon. Despite the surge, Atsushi Mimura, the vice finance minister for international affairs, stated that Japan remains on high alert over currency movements and expressed that he is neither reassured nor satisfied with current market levels.
How each side framed it
- Centre
- Both sources presented the currency fluctuations as a result of market expectations and official government caution without adding ideological framing.
Sources
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