German bank: If the Bank of Japan raises interest rates, the yen may rise.

Volkmar Baur, from Deutsche Bank, stated in a report that with the Bank of Japan possibly raising interest rates twice this year, the yen is expected to appreciate. He mentioned that Japan's key interest rate has not yet reached a neutral level that neither stimulates nor restricts the economy, which provides a reason for further rate hikes. In contrast, the European Central Bank may only raise rates once, below expectations. He also mentioned that the Federal Reserve may cut rates, breaking the expectation of keeping rates unchanged. Deutsche Bank predicts that by December, the dollar will fall to 145 yen and the euro will fall to 174 yen. The dollar is currently up 0.1% at 159.17 yen, while the euro has risen 0.3% to 186.52 yen.