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Yen falls to lowest level versus dollar
The Japanese markets continued their decline today, with the Nikkei 225 index falling to around 69,700 points amid profit-taking and tensions regarding technology company valuations. Meanwhile, the yen continued to weaken against the dollar, nearing the 161.9 yen level per dollar due to the divergence in yields between U.S. and Japanese bonds. Markets are anticipating that the U.S. Federal Reserve will adopt a more hawkish stance on interest rate hikes, while Japan is monitoring the response of financial authorities to support the yen and mitigate its decline.
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