The Japanese yen fell 0.5% against the US dollar, and expectations for the Bank of Japan to raise interest rates are cooling.

On the Tokyo foreign exchange market, the yen fell 0.5% against the US dollar. The Bank of Japan has postponed the time to achieve the 2% price stability target by about a year compared to previous estimates, and the market expectations for a rate hike have been delayed, leading to increased selling of the yen. The yen fell to 143.82 yen against the dollar, down 0.5% from the New York closing price. Mitsubishi UFJ Bank's global market research analyst stated that overall, the outlook report and other reports suggest that the momentum of the last rate hike has faded. This indicates a significant delay in achieving the inflation target compared to expectations. Whether the US dollar can rise to the level of 144 yen still depends on the comments of the Bank of Japan Governor at the press conference.