Japan — Bank of Japan & United States — United States Department of the Treasury

Japan — Bank of Japan: The Japan — Bank of Japan's gradual pace of interest rate increases, despite a recent hike, is seen as insufficient to stem the Japan — Japanese yen's depreciation, and there are concerns about government pressure to limit further rate hikes.

United States — United States Department of the Treasury: Rising US Treasury yields contribute to the strength of the U.S. Dollar Index, further pressuring the Japan — Japanese yen.