Market News / Story
USD/JPY — Dollar Powers Up Above ¥158.50 as Traders Lift Rate-Hike Bets to 70%
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Markets now price roughly a 70% chance of another Fed rate increase, up from about 50% last week. The Fed is driving the latest move USD/JPY has recovered toward the mid-158s after briefly falling toward ¥152 earlier this month. The pair’s recent rise reflects the gap between what the Fed may do next and what the BOJ is likely to deliver beyond its latest decision. Expectations for another Fed hike have climbed sharply as traders focus on persistent inflation, firm US…