According to CoinMeta, and as reported by Reuters, the Japanese yen has strengthened against the US dollar mainly due to traders reducing their expectations of interest rate hikes by the Federal Reserve this year. The yen rose 0.2% against the dollar to 159.075 yen, marking a slight increase for the second consecutive day, but still within the trading range of the past week. Data released on Monday showed that Japan's GDP grew at an annual rate of 1.1% in the second quarter. The yield on Japan's 10-year government bonds soared to its highest level in thirty years. Analysts said that the government is still trying to limit the transmission of rising energy prices, while an increase in government consumption indicates that fiscal policy is beginning to have an effect. The euro rose 0.1%, breaking through a two-month high, and the British pound also rose 0.1%. In the realm of cryptocurrencies, Bitcoin rose 0.8% to trade at $63,512.66, while Ethereum rose 1.1% to $1,902.13.