The Japanese yen has been experiencing fluctuations against the U.S. dollar, trading at approximately 152 yen per dollar in Tokyo on December 12, 2024, before rising to the mid-153 yen range in London. The dollar was noted to be trading around 152.5 yen in Tokyo's foreign exchange market, with traders reacting to expectations surrounding upcoming monetary policy decisions from both the Bank of Japan (BoJ) and the U.S. Federal Reserve. The yen's depreciation is attributed to rising U.S. long-term interest rates, which have prompted a stronger dollar. The Nikkei Stock Average fell by 378 points, reflecting profit-taking by investors amid these currency fluctuations and the assessment of U.S. economic data. Market participants are closely monitoring the BoJ's upcoming policy meeting scheduled for December 18-19, where the central bank is expected to maintain its current stance on interest rates amidst uncertainty regarding the U.S. economy and potential tariff implications from the incoming Trump administration.