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Japan's interest rate hike is coming, which is favorable for the yen; the dollar is under pressure as rate-cut trades return. The next Federal Reserve chair may be dovish.---1203 Macro Desiccation

Japan's interest rate hike is coming, which is favorable for the yen; the dollar is under pressure as rate-cut trades return. The next Federal Reserve chair may be dovish.---1203 Macro Desiccation

``` 1. Recently, the Governor of the Bank of Japan sent a clear signal of interest rate hikes, causing the USD/JPY exchange rate to briefly fall and then rebound. Currently, the market focus has shifted towards the rate hike path extending to 2026. The Finance Minister stated respect for the
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