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The Japanese Yen remains pressured against the US Dollar, influenced by Bank of Japan Governor Ueda’s recent statements amid a broader USD strength.

Japan’s recent central bank policy shift pushed bond yields to new highs, fueling broader optimism across Asian markets and boosting major cryptocurrencies including Bitcoin, Ethereum, and Cardano.

AUD/JPY continues its upward trajectory, sustaining gains around 103.00 following the Bank of Japan’s recent policy announcement during Asian trading hours.

The Bank of Japan’s 25-basis point rate increase marks the highest level in almost 30 years, propelling Bitcoin above $87,000 and weakening the yen in global markets.

Despite an uptick in Japan’s Consumer Price Index, the yen weakened as investors continue to eye the Bank of Japan’s monetary policy stance. Market dynamics suggest potential volatility ahead.