Mitsubishi UFJ: The yen may continue to rise

ChainCatcher news, Mitsubishi UFJ stated that the minutes from the Bank of Japan's meeting on July 31 sent a clear signal for further interest rate hikes, and the yen is expected to rise further.

Analyst Lee Hardman mentioned in the report that the minutes released on Thursday indicated that some committee members described the policy interest rate as significantly low and highly accommodative, even after the policy rate was raised to 0.25%. "If financial markets stabilize and the yen's upward momentum slows, it seems that the Bank of Japan may still have the possibility of raising interest rates at least once more in this fiscal year." This would support the prospect of further appreciation of the yen in the coming year. (Jin Shi)