According to a report by Jin Shi data, Mitsubishi UFJ analyst Derek Halpenny stated that the yen will continue to be supported, as Japan's latest inflation data may increase the likelihood of another interest rate hike later this year. Although market expectations for a rate hike by the Bank of Japan are not high, the expectations for a rate hike by the Bank of Japan appear unique against the backdrop of other G10 central banks cutting rates. This could put pressure on the USD/JPY, as market participants are more certain about the prospects of further rate cuts by the Federal Reserve later this year.