According to Jinshi Data, on July 25, the yen strengthened significantly against other G10 currencies and Asian currencies, driven by risk aversion and expectations of a rate hike by the Bank of Japan. Matt Simpson, market analyst at FOREX.com and City Index, said Wall Street had another sell-off after a disappointing start to the earnings of large technology companies. Simpson said there was also speculation that the Bank of Japan could raise interest rates as early as next week. Earlier media reports said that the Bank of Japan is considering raising interest rates by 10 basis points next week and will announce a detailed plan to halve the scale of bond purchases in the next few years. So far, the dollar has fallen 0.67% against the yen to 152.87; the Australian dollar has fallen 0.89% against the yen to 100.36; and the euro has fallen 0.65% against the yen to 165.73.