The Japanese yen has fallen to its weakest level in nearly 40 years, according to Reuters, as markets expect the Bank of Japan (BOJ) to signal further interest rate hikes. While the BOJ is widely expected to keep its policy rate at 1% at its July 31 meeting, 86% of economists surveyed by Reuters expect rates to rise to 1.25% by the end of the year. Prime Minister Sanae Takaichi said stronger economic growth could help restore confidence in the yen.
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