yen intervention BOJ 2026

Wall Street surged more than 1% overnight after Fed Governor Christopher Waller said he is inclined to hold rates steady later this month if inflation data continues to cool, slashing the probability of a September rate hike from near 70% to a coin flip. The S&P 500 climbed 1.1% to 7,747.71 for its best day in a month, bond yields retreated from multi-year highs, and the yen soared 2% on rising Bank of Japan rate hike expectations. ASX 200 futures are pointing 25 points higher to 9,037 as the Australian dollar hit a fresh four-month high at US72.08¢.

Wall Street rebounded on Wednesday as Dell surged 16% on record AI server demand and the global bond sell-off paused. The yen leapt nearly 1% on BOJ hawk talk, oil held above $90 on US-Iran escalation, and HSBC forecast back-to-back RBA rate hikes starting this month.