Yen Slips as October BoJ Rate Hike Bets Fade, USD/JPY Hits 158.44

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Summary · why it matters

The Japanese Yen weakened about 0.5% against the US Dollar, lifting USD/JPY to 158.44, after the Bank of Japan's Summary of Opinions disappointed expectations for an October rate hike. MUFG's Lee Hardman reported the move, which followed the release of the central bank's summary of opinions. The fading of October hike bets drove the currency pair higher. The Yen's roughly 0.5% decline against the Dollar marked the session's key development for the pair.

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