The yen's weakness is due to the difference between the Fed's hawkish signal and the Bank of Japan's policy

Sim Moh Siong, a foreign exchange strategist at the Bank of Singapore, said that the yen's slight weakness is related to the unexpected hawkish signal released by the Federal Reserve. The Bank of Japan is cautious on raising interest rates, while the Federal Reserve is equally cautious on cutting interest rates. The differences between the two positions are in stark contrast.
Sim Moh Siong pointed out that we need to further understand Ueda Kazuo's policy thinking, because the Bank of Japan may still raise interest rates during the year, and its policy adjustment space still exists.