The Bank of Japan's interest rate hike expectations have cooled, and the yen weakened in the early morning.

Jin10 reported on October 8th that due to the continued cooling of expectations for interest rate hikes by the Bank of Japan, the yen weakened against most G7 and Asian currencies during the morning trading session. Chris Turner from ING stated in a research report: “In the short term, the market's focus will be on the kind of pressure the Bank of Japan is facing.” Currently, the market believes that the probability of the Bank of Japan raising interest rates at this month's meeting is only 20%. If the rate hike is postponed until next year or even later, it will further put pressure on the yen.