11th September 2014
The US dollar has advanced to fresh six-year highs versus the Japanese yen in forex trading markets today (September 11th), briefly rising above the 107 yen level.
This comes amid further speculation regarding potential policy divergence between the Federal Reserve and the Bank of Japan (BoJ).
It is widely expected the Fed will exit its quantitative easing programme next month, with the next step for the bank to lift interest rates. As investors assess the potential timeline for this action, the dollar has surged versus the yen and the euro.
Both the BoJ and the European Central Bank appear likely to remain committed to a looser monetary policy stance for much longer.
Demand for the yen was also dampened after Japan's second-quarter economic growth figures came in below estimates, while the country is also struggling to bring its current account deficit under control.
Having briefly touched 107.04 yen, the dollar was trading 0.10 per cent higher for the session at 106.97 yen as of 10:45 BST.
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