CoinVoice has learned that the yen has reached a 10-week high against the dollar. Analyst ChrisTurner from ING mentioned in a report that if the upcoming inflation data supports the market's expectation of further rate hikes by the Central Bank of Japan, the yen may continue to strengthen.



The data shows that the market expects a higher possibility of a rate hike by the Central Bank of Japan in July, but it is not fully priced in until September, with a 25 basis point rate hike expectation.

Turner said it was surprising how strong the yen reacted to these "relatively modest interest rate changes". However, despite the possibility that Japanese inflation data could further drive the USD/JPY lower in the short term, the USD/JPY exchange rate is not expected to fall significantly.
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