Yen Strengthens on Rising BOJ Rate Hike Bets

During Wednesday's Asian trading session, USD/JPY was at 159.3674, having earlier traded near 159.45. Expectations for another rate hike by the Bank of Japan (BoJ) continue to build, with the yen (JPY) firming against the US dollar (USD). Traders are eyeing Japan's nationwide Consumer Price Index (CPI) inflation report, due out later on Friday.