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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move reflecting ongoing pressure on Asian currencies, the Japanese yen slumped to a 40-year low against the US dollar, according to reports from Investing.com. The decline comes amid a widening gap between Japan's ultra-loose monetary policy and the Federal Reserve's tightening stance.
The Bank of Japan continues to hold negative interest rates, while recent US economic data underscores the strength of the American economy, with Q1 GDP growth coming in at 2.1% (per market data), boosting dollar appeal and dragging the yen lower, along with other regional currencies.
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Sign InTraders are now focused on BOJ Governor Ueda's speech scheduled for June 24, alongside board member Tamura's comments on June 25, for any hints of a policy shift. Without official intervention, the yen may continue to test fresh lows.