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PM Takaichi Win Sends Yen Above 159/USD, Hikes Needed

8/12/2026

39 4 Full Breakdown

Summary

Story summary

Prime Minister Sanae Takaichi’s win pushed the yen above 159 per dollar.
Earlier, the yen rose to 155 per dollar and briefly crossed 163.
Jesper Koll of Monex Group said intervention scared markets but cannot stop carry trades.
John Wood of Lombard Odier warned that two more rate hikes will be needed before the Bank of Japan meets in September.

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Story summary

Prime Minister Sanae Takaichi’s win pushed the yen above 159 per dollar.
Earlier, the yen rose to 155 per dollar and briefly crossed 163.
Jesper Koll of Monex Group said intervention scared markets but cannot stop carry trades.
John Wood of Lombard Odier warned that two more rate hikes will be needed before the Bank of Japan meets in September.