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As expectations of a Bank of Japan interest rate hike recede, the yen weakens, temporarily reaching the 147 yen level.

As expectations of a Bank of Japan interest rate hike recede, the yen weakens, temporarily reaching the 147 yen level.
① Early expectations of additional Bank of Japan interest rate hikes retreat.
② The yen is being sold, leading to increased buying of the dollar.
③ The yen depreciates, temporarily reaching the 147 yen level.
④ It dropped more than 3 yen compared to the previous day, reaching a one-month low for the yen.
After a meeting between Prime Minister Ishiba and BOJ Governor Ueda, there was a negative statement on additional interest rate hikes.
Stock prices in the Tokyo stock market are almost all up.
The Nikkei Stock Average temporarily rose by over 1,000 yen.

The yen's depreciation due to the retreat of expectations for additional BOJ interest rate hikes had a significant impact on the foreign exchange market and stock market.
Prime Minister Ishiba's remarks quickly changed market expectations, leading to a sharp decline in the yen and a rise in the dollar, reflecting investors' sensitive reactions to Japan's monetary policy.
Furthermore, the expectation of improved performance by export companies due to the weaker yen led to a significant increase in the stock market, highlighting the strong interaction between currency and stocks.
However, this is dependent on the upcoming US employment statistics.
It is essential to monitor how the long-term impact on the overall Japanese economy will unfold.
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