The Japanese yen had risen 4 per cent so far in September as of September 9, 2026, a sharp move ahead of the Bank of Japan’s September 17–18 monetary-policy meeting. On that date, the dollar was at 153.38 yen, down 0.4 per cent on the day, according to The Business Times, citing Reuters.
The exchange-rate quotation and the monthly performance measure different things: 153.38 yen is the dollar’s value in yen at a point in time, while the 4 per cent figure describes the yen’s rise so far during September. The two readings nonetheless place currency-market attention on the approaching BOJ decision.
Data Snapshot
| Metric | Current | Previous | Change | Period | As of | Source |
|---|---|---|---|---|---|---|
| Japanese yen rise in September | 4 per cent rise so far in September | — | — | September 2026 through September 9, 2026 | 2026-09-09 | The Business Times / Reuters |
| USD/JPY exchange rate | 153.38 yen | — | down 0.4 per cent on the day | September 9, 2026 | 2026-09-09 | The Business Times / Reuters |
| Expected BOJ rate increase | 25 basis points | — | — | September 17–18, 2026 meeting | 2026-09-09 | The Business Times / Reuters |
| Current BOJ policy rate | around 1.0 percent | — | — | From June 17, 2026 | 2026-06-16 | Bank of Japan |
The September yen rally reached 4 per cent by September 9
The 4 per cent rise was recorded over September 2026 through September 9. The September 9 session added to that move, with USD/JPY down 0.4 per cent on the day to 153.38 yen.
USD/JPY is conventionally expressed as yen per dollar. A decline in the quoted rate therefore corresponds to a stronger yen against the dollar, consistent with the reported monthly rise in the Japanese currency.
The available snapshot does not provide a September opening exchange rate or an intraday range. It establishes the direction and scale of the move through September 9, rather than a complete account of the month’s trading.
Traders expected a 25-basis-point BOJ increase
According to the Reuters report carried by The Business Times, traders widely expected the BOJ to raise its policy rate by 25 basis points at the September 17–18, 2026 meeting, which is listed on the Bank of Japan’s calendar.
The BOJ’s policy rate was around 1.0 percent following its June 2026 meeting, according to the central bank’s June policy statement. The September meeting was therefore the next concrete observation point, but the expectation was not a policy decision.
The supplied data did not state the probability of an increase or identify a consensus beyond the description that traders widely expected one.
BOJ guidance leaves the path conditional
The BOJ said in July that it would continue raising the policy interest rate in response to economic activity, prices and financial conditions. Its July outlook statement frames further increases as conditional on those factors, rather than as an unconditional commitment to raise rates at every meeting.
That guidance supports the broader narrative of continuing rate rises while preserving the central bank’s discretion at the September 17–18 meeting. For the yen, the September 9 rally and the anticipated 25-basis-point move made that decision the immediate policy event to watch.
