The expectation of the Bank of Japan raising interest rates has heated up, and the yen against the US dollar has reached a six-month high

Affected by expectations of interest rate hikes by the Bank of Japan and capital inflows, the Japanese yen rose to a six-month high against the US dollar. Japanese Finance Minister Takayuki Katayama stated that Japan will maintain close communication with the US Treasury Department to maintain order in the foreign exchange market. Christopher Wong, a foreign exchange strategist at the Research Department of OCBC Bank, stated that the market has almost fully priced in a 25 basis point rate hike for next Sunday's central bank meeting.