Yen Strengthens to 150 Per Dollar, Two-Month High; Nikkei Closes Down 279 Points at 38,787

The Japanese yen has strengthened significantly against the U.S. dollar, reaching levels not seen in two months. As of February 7, 2025, the yen traded at approximately 150 yen per dollar, marking a notable increase driven by speculation surrounding potential interest rate hikes by the Bank of Japan (BOJ). This appreciation of the yen has had a negative impact on the Tokyo stock market, with the Nikkei Stock Average closing down 279 points at 38,787. The strong yen has raised concerns among investors, particularly affecting export-related stocks. Market analysts are closely monitoring the situation as the yen's rise continues to unfold, with the dollar also experiencing a decline to the 150 yen range, which is the lowest it has been in two months. The broader implications of this currency movement are likely to influence market sentiment and economic forecasts in Japan.