Japanese Yen Surges Ahead of Expected Rate Hike
The Japanese yen climbed to its strongest level since February as markets prepare for a potential Bank of Japan interest rate rise. Meanwhile, global stocks faced pressure and oil prices moved higher.
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USD/JPY slumped on Tuesday as Japan's currency surged to its strongest level since February, driven by expectations of an interest rate rise by the Bank of Japan next week. The move breaks a period of global market calm following the United States Labor Day holiday.
