Mitsubishi UFJ Financial Group: The yen falls, with reports of weakening bets on the Bank of Japan raising interest rates earlier.

Lee Hardman of Mitsubishi UFJ Bank said that the yen fell to a two-week low against the US dollar, following reports that Prime Minister Naonae Takaichi expressed concerns about further rate hikes at a meeting with the Bank of Japan. He stated in a report that the article in the "Mainichi Shimbun" will weaken market expectations for the Bank of Japan to "hike rates as early as April to accelerate the tightening pace." Meanwhile, the "Nikkei Shimbun" reported that the currency check conducted by US authorities last month was led by Treasury Secretary Scott Bennett, and was not in response to an official request from Japan. Hardman said that this "may also create the impression that Japan is not too concerned about a weak yen." Data from the London Stock Exchange Group showed that the US dollar rose to a high of 156.28 yen.