Yen jumps as bets grow on BOJ rate hike

The yen jumped 1.2 percent against the dollar on Tuesday to a six-week high after higher-than-expected inflation in Tokyo supported bets on a Bank of Japan rate hike next month.

The dollar fell against most major currencies in thin trade due to the U.S. Thanksgiving holiday, with the British pound, New Zealand dollar and yuan hitting their highest levels in more than a week.

The dollar fell 1 percent to 150.01 yen by 0506 GMT, having earlier hit 149.77 yen for the first time since Oct. 21, according to Reuters.