the yen

Japan is partially turning off the tap of decades of cheap money, moving to support the yen after prolonged currency weakness. The shift in monetary policy is being framed as an effort to defend the currency, with coverage suggesting Washington's position — described as an 'American friend' — played a supporting role in Tokyo's decision to rein in ultra-loose policy.

US Treasury yields have climbed into the 5% range amid simultaneous interest rate hikes by the US and Japan — the first American hike in three years and two months. Commentators are watching how higher yields and a firmer yen ripple through growth stocks, with the FANG+ and NASDAQ 100 indices seen as most exposed to the shifting rate environment.

The US dollar slipped while the Japanese yen rallied after remarks from Japanese officials, and oil prices eased, weighing on currency markets. Traders are watching whether the yen's move signals potential intervention concerns or a shift in Japanese policy talk, while softer oil prices are reshaping expectations around inflation and central bank policy.

Former BitMEX chief executive Arthur Hayes says Bitcoin could climb to $1 million, citing Japan's fresh stimulus measures as a catalyst. He argues that renewed monetary expansion by the Bank of Japan will weaken the yen and push investors toward hard assets, with Bitcoin a prime beneficiary. His forecast is circulating widely among crypto market watchers, many of whom treat his bold price calls as a barometer of speculative sentiment.

NTT Docomo will raise the monthly fee for its budget mobile brand ahamo from December, with an increase of just 165 yen. Older OCN Mobile ONE plans will also be affected. The small size of the hike is drawing attention, with observers suggesting Docomo is keeping the rise modest to avoid pushing customers toward rival low-cost carriers such as Rakuten Mobile or others.