BBMarkets：美元兑日元汇率小幅走高，交投情绪偏谨慎

Group 1 - The Japanese yen continues to weaken, with the USD/JPY exchange rate rising to 159.00, the highest since July 2024, driven by dollar buying [1] - Market expectations for larger economic stimulus measures have increased due to speculation that Prime Minister Fumio Kishida may call for early elections amid high approval ratings [1] - Geopolitical tensions and policy uncertainties are diminishing the appeal of the yen as a safe-haven currency [1] Group 2 - The rapid decline of the yen is under the control of short sellers, and there is a possibility of verbal intervention from Japanese authorities [2] - Concerns about the independence of the Federal Reserve have resurfaced following an investigation into testimonies regarding a renovation project, raising worries about external influences on the Fed [2] - Recent employment data has strengthened expectations for a moderate easing policy from the Fed this year, putting dollar bulls on the defensive [2] Group 3 - The technical outlook for USD/JPY remains bullish, with the exchange rate staying above the 50-day simple moving average, providing support for buyers [2] - Political factors and policy expectations are exerting dual pressure on the yen, with the possibility of more fiscal stimulus measures due to the potential early election [4] - Japanese Finance Minister Shunichi Suzuki has expressed concerns about the yen's decline in discussions with the U.S. Treasury Secretary, indicating limited tolerance for yen weakness [4]