Yen jumps to seven-month high on rate-tightening bets
The yen reached its strongest level in seven months, extending gains tied to bets on a faster pace of Bank of Japan tightening and potential home-fund repatriation.
The yen hit its strongest level in seven months on Monday, extending recent gains as traders bet on a faster pace of Bank of Japan tightening and on the potential for Japanese investors to shift funds back home. Monday's move reinforced the view among some market watchers that the tide may now be turning.