Japanese Yen Hits 40-Year Low; Dollar-Yen Rate Expected to Hold at 165-170 on July 12

According to Kyobo Securities, on July 12, the Japanese yen is reaching its weakest level in 40 years as the Bank of Japan (BOJ) maintains its interest rate hike stance. Analysts forecast the dollar-yen exchange rate will be defended at the 165-170 yen level, provided the BOJ does not abandon its monetary tightening bias.
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