Japanese Yen Tumbles to Ten-Week Low: USD/JPY Breaks Above 159.00 Amid Divergent Policies

The Japanese Yen has tumbled to a ten-week low, with USD/JPY breaking above 159.00 to trade around 159.65, a 0.54% increase on Wednesday. This depreciation is driven by the stark monetary policy divergence between the ultra-loose Bank of Japan and the 'higher for longer' US Federal Reserve, fueling carry trades. Technically, the break above 159.00 reinforces bullish momentum, challenging Japanese authorities' resolve. The outlook remains bullish for USD/JPY.