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Yen hits six-week high on growing BOJ rate hike bets - REUTERS

NOVEMBER 29, 2024

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TOKYO/LONDON, Nov 29 (Reuters) - The yen jumped more than 1% against the U.S. dollar to a six-week high on Friday after faster-than-expected inflation in Tokyo supported bets for a Bank of Japan interest rate hike next month.
The dollar sagged against its peers in trading thinned by the U.S. Thanksgiving holiday.
"The yen is turning into the latest momentum trade ... with little friction to prevent it rising in thin holiday trade," said Matt Simpson, senior market analyst at City Index.

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