In the Tokyo morning session, dollar-yen moved toward a weaker yen, reaching around ¥158.22. Expectations for an additional Bank of Japan rate hike receded after a government official said in the Bank of Japan's Summary of Opinions that the impact of this rate hike should be carefully examined. Euro-yen, sterling-yen and Australian dollar-yen also rose.
In the Tokyo morning session, dollar-yen moved toward a weaker yen, reaching around ¥158.22. In the Bank of Japan's Summary of Opinions, a government official said that the impact of this rate hike on the economy and prices should be carefully examined, which appears to have reduced expectations for an additional Bank of Japan rate hike.
Euro-yen rose to around ¥179.24, sterling-yen to around ¥209.84 and Australian dollar-yen to around ¥109.86. The weaker-yen trend has spread to other major currencies.
The Japanese government's position contrasts with that of US Treasury Secretary Scott Bessent, who expects further rate hikes to continue actively, and the divergence in views over a review of the Bank of Japan's monetary policy may be receiving attention.