The yen strengthens. It is reported that the Japanese government will support accelerating the Bank of Japan's interest rate hike pace.

Informed sources revealed that the government led by Prime Minister Suga Yoshihide supports the Bank of Japan's recent interest rate hike, with the next hike expected in September or October. Following this news, the yen strengthened against the dollar, while Japanese government bonds fell. The yen rose 0.1% against the dollar, reaching 159.19. Japanese government bond futures dropped 9 basis points to 126.48.