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Story summary
- The yen rose to about ¥152 per dollar on September 8, its strongest level in six months.
- On September 7 the yen broke ¥154 per dollar, climbing up to 1.4% intraday.
- Traders expect the Bank of Japan to raise rates by 25 basis points to 1.25% at its September 17-18 meeting.
- Markets price a three-in-four chance of that hike next week.
- Japan’s Ministry of Finance disclosed ¥15.4 trillion intervention in July-August to support the yen.
