TOKYO -- Expectations of a rise in U.S. interest rates have pushed the cost of buying dollars with yen to a nine-year high, a potential blow to Japanese banks seeking more business abroad as ultra-low rates squeeze domestic returns.
Forex
Japanese banks paying most for dollars since 2008
With rate gap set to widen, deposits and bonds can soften the blow
Japanese financial institutions paid a premium of nearly 2% in annualized terms to buy dollars with yen at the end of November.
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