JAPANESE YEN COULD STRENGTHEN IN 2026 Commerzbank says the yen may rise next year as Japan’s rates increase while U.S. rates fall. The BOJ is expected to hike to 0.75% in December and possibly again in April. Meanwhile, the Fed may cut more than markets anticipate. This narrowing U.S.–Japan rate gap—potentially down to 150 bps—should support yen appreciation. The dollar is currently at ¥155.21 after touching a three-week low of ¥154.32.(*Walter Bloomberg)