Barclays: Fed decision makes Bank of Japan hike nearly unavoidable as yen drops 1.1%

The Federal Reserve’s rate-hike decision has made a Bank of Japan rate increase nearly unavoidable, according to Mitul Kotecha, Barclays’ head of Asian foreign exchange and emerging-markets macro strategy. The yen has weakened more than 1.1% since the Fed decision, while the dollar has gained 0.7% against the currencies of major trading partners.