Yen's Sudden Surge: A Canary in the Coal Mine for Global Markets The yen's sharp appreciation against the dollar has sent shockwaves through global markets, prompting investors to reassess their expectations for interest rates.
The currency's 1. 7% jump on Thursday marked its highest level against the dollar in a month.
The Bank of Japan's policymaking board has incrementally raised interest rates over the past two years, following decades of deflation and economic growth.