Yen approaches 39-and-a-half-year low, BOJ rate hike has little effect

Yen briefly hits 161.80 yen range, approaching 39-and-a-half-year low Despite the Bank of Japan raising its policy rate to 1%, yen selling accelerated due to the US hawkish stance and expectations of a widening Japan-US interest rate differential. Finance Minister Katayama warned against speculative moves, but the yen's weakening trend continues amid intervention vigilance. 1234

Nikkei average hits 70,000 yen range, Daiwa Securities forecasts 80,000 yen by year-end The Nikkei average rose 5,230 yen on a weekly basis to a record high in the 71,000 yen range. Daiwa Securities presented a new forecast of 80,000 yen by year-end, driven by AI and semiconductor-led gains. 5

Iran reblocks Strait of Hormuz, risk of sharp Nikkei drop on Monday Iran declared a reblockade of the Strait of Hormuz on the 20th, creating a source of concern for the stock market on Monday the 22nd. Additionally, Micron's earnings announcement is scheduled for later in the week, raising caution over overheating in the AI market. 6