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المشهد العربي
Yen drops on rate hike concerns
The Japanese currency (yen) experienced a decline against the US dollar after the Bank of Japan announced an increase in interest rates to their highest level since 1995, with a focus on controlling inflation and no indications of imminent successive hikes. Despite Japanese industrial companies' confidence improving to its highest level in over eight years, the weakness of the yen led to the dollar rising by 0.58% to 158.32 yen. Markets anticipate monitoring Japanese interventions to maintain the currency amid current tensions.
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