The Japanese yen reached a one-month high against the US dollar on September 4, 2026, as traders rushed to unwind yen-funded carry trades ahead of expected Bank of Japan rate hikes. The currency gained more than 2% on Thursday and held most gains Friday.
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A rush to unwind yen-funded carry trades helped send the currency to a one-month high against the dollar as traders ramped up bets on further Bank of Japan rate hikes.
The yen held most of its gains Friday after advancing more than 2% on Thursday. A rush to unwind yen-funded carry trades helped send the currency to a one-month high against the dollar as traders ramped up bets on further Bank of Japan rate hikes. Bloomberg's David Savage reports. (Source: Bloomberg)