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⚡ Markets: Direct pressure from the US increases the probability of a Bank of Japan rate hike, which would be bullish for the JPY and bearish for Japanese equities (Nikkei 225). Also has implications for global carry trades.USDJPYNikkei 225
US Treasury Secretary Scott Bessent has publicly called for the Bank of Japan to raise interest rates to strengthen the yen, which has been trading near 160 to the dollar. The comments have increased market expectations for a BOJ rate hike as soon as September.
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