The Japanese yen has surged to a one-month high against the U.S. dollar, driven by increased speculation of imminent rate hikes by the Bank of Japan. This appreciation of the yen, trading around 156.34 per dollar, reflects heightened expectations for tighter Japanese monetary policy, with the key rate currently at 1.0%, its highest level since 1995. Investors are unwinding yen-funded carry trades, a popular strategy among those seeking higher yields elsewhere.
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