On Wednesday, March 20, the yen continued to weaken against the dollar, at one point touching 151.54, its lowest level since last November. The main reason behind this is that while Bank of Japan Governor Kazuo Ueda said at a press conference yesterday that too rapid a rise in prices could lead to further interest rate hikes, he also emphasized the importance of maintaining an accommodative monetary policy to support economic growth.

And observers agree that the BOJ will not raise rates as aggressively as the Fed.