A Citi strategist said in a report that Bank of Japan tightening and rising Japanese yields mean the yen’s long-term trend may have shifted toward appreciation. The report flagged a marked change in Sanae Takaichi’s policy stance—previously oriented toward inflation-boosting measures that tended to weaken the currency—now appearing less supportive of yen weakness. Citi said Japan’s policy has moved from endorsing post‑Abenomics yen weakness to supporting yen strength, and that US policy has like

A Citi strategist said in a report that Bank of Japan tightening and rising Japanese yields mean the yen’s long-term trend may have shifted toward appreciation. The report flagged a marked change in Sanae Takaichi’s policy stance—previously oriented toward inflation-boosting measures that tended to weaken the currency—now appearing less supportive of yen weakness. Citi said Japan’s policy has moved from endorsing post‑Abenomics yen weakness to supporting yen strength, and that US policy has likewise shifted from limiting excessive yen weakness to guiding yen appreciation.