NY foreign exchange market = yen rises, receiving reports that the Bank of Japan is considering additional interest rate hikes

July 31, 2024 5:51 AM GMT+9 (some excerpts)

The yen rose in the New York foreign exchange market. Reports that the Bank of Japan will consider additional interest rate hikes at the second monetary policy meeting to be held on the 31st and discuss a plan to raise short-term interest rates to around 0.25% were viewed as material.
At the end of the transaction, the dollar/yen depreciated 0.47% to 153.29 yen. After adding 161.96 yen, which is the highest price in 38 years, on the 3rd of this month, the dollar has been on a downward trend, and the price has dropped by about 4.7% since the beginning of the month.
The yen had declined in early trading due to the Bank of Japan's move to resolve positions ahead of policy decisions.