Japan — Bank of Japan & U.S. Dollar Index

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.

U.S. Dollar Index: The U.S. Dollar Index has strengthened significantly against the Japan — Japanese yen, reaching a 40-year high, primarily due to expectations of United States — Federal Reserve rate hikes and higher US Treasury yields.

Japan — Bank of Japan: The Japan — Bank of Japan is scheduled to have a rate-setting meeting next week, following the ECB's rate hike in response to inflation.

U.S. Dollar Index: The U.S. Dollar Index has slid due to the prospect of a deal to end the Iran war, although its dominance in global oil trade is being tested.