The Japanese yen is experiencing its longest losing streak against the US dollar since June, as traders bet against a Bank of Japan (BOJ) rate hike next week. The yen fell 0.7% to 153.72 per dollar, marking its lowest level since November 26. This decline is part of a five-day losing streak and its worst weekly performance in over two months.
Reports suggest the BOJ may delay any rate hikes until January or later, citing minimal risk of inflation exceeding targets. Consequently, the probability of a BOJ rate hike this month has dropped to 16% from 64% a week ago. The BOJ's decision will follow the Federal Reserve's rate announcement.
