Kit Juckes of Société Générale said in a report that the yen needs stronger GDP growth in Japan to rise from the current level of weakness. The yen has been falling over the past few months despite the Bank of Japan's interest rate hike. The rise in interest rates failed to boost the yen, as interest rate hikes were also accompanied by rising yields on Japanese treasury bonds and concerns about growing debt. This means that Japan's economic growth expectations may have a greater impact on the currency than monetary policy. Juckes said, “What the yen needs most is stronger GDP growth. “The dollar fell 0.3% against the yen to 156.04 yen. According to data from the London Stock Exchange Group, the dollar hit 157.89 yen against the yen on November 20, the highest level since mid-January.

Kit Juckes of Société Générale said in a report that the yen needs stronger GDP growth in Japan to rise from the current level of weakness. The yen has been falling over the past few months despite the Bank of Japan's interest rate hike. The rise in interest rates failed to boost the yen, as interest rate hikes were also accompanied by rising yields on Japanese treasury bonds and concerns about growing debt. This means that Japan's economic growth expectations may have a greater impact on the currency than monetary policy. Juckes said, “What the yen needs most is stronger GDP growth. “The dollar fell 0.3% against the yen to 156.04 yen. According to data from the London Stock Exchange Group, the dollar hit 157.89 yen against the yen on November 20, the highest level since mid-January.