Yen Weakens as Japanese Prime Minister Expresses Concerns Over Rate Hikes

The yen continued its downward trend following reports that Japanese Prime Minister Sanae Takaichi expressed concerns about further interest rate increases. Bloomberg posted on X, highlighting the Prime Minister's apprehension regarding the potential impact of additional rate hikes on the economy. This development has contributed to the yen's ongoing depreciation, as market participants react to the possibility of a more cautious approach to monetary policy in Japan. The currency's decline reflects broader market sentiments and the challenges faced by the Japanese government in balancing economic growth with inflation control.