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Japan commits to yen stability with US
The Japanese government confirmed that it will continue to work towards maintaining the stability of the yen's exchange rate through close communication with the United States, following its recent decline due to the dollar's rise, which caused the yen to fall to around 155.50, moving away from its seven-month high of 152.89. This came after the U.S. Federal Reserve decided to raise interest rates, and Japan announced a joint intervention with the United States to buy yen in July to help support the currency, along with a commitment to take additional measures if necessary. It is expected that the Bank of Japan will raise interest rates to 1.25%, the highest level in 31 years, but analysts believe that this will only support the yen if the tightening of monetary policy comes from the bank's governor.
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