The U.S. dollar has weakened significantly against the Japanese yen, reaching a low of approximately 148.93 yen, the weakest level for the dollar in about two and a half months. This decline is attributed to concerns regarding the U.S. economy, particularly following soft jobs and manufacturing data that have lowered Treasury yields. Market participants are also anticipating a more dovish stance from the Federal Reserve. In contrast, the Bank of Japan is signaling potential monetary tightening, which has contributed to the yen's strength. The dollar's decline was marked by fluctuations, with the exchange rate hitting 150 yen earlier before retreating to the 148 range. The yen's rise reflects a growing sentiment about the U.S. economic outlook and its impact on foreign exchange markets.