[Institution: Yen Slightly Weaker, Bank of Japan Remains Cautious on Rate Hikes] Sim Moh Siong, FX strategist at a Singapore-based bank, stated, "I think the yen is slightly weaker, which is related to the unexpectedly hawkish signals released by the Federal Reserve overnight. The Bank of Japan remains cautious on rate hikes, while the Federal Reserve is equally cautious on rate cuts, creating a stark contrast in their stances. We need to further understand Kazuo Ueda's policy thinking, as there is still a possibility of a rate hike by the Bank of Japan this year. Therefore, I believe there is still room for policy adjustments."
