According to CoinMeta, Abbas Keshvani, the head of macro strategy for Royal Bank of Canada Asia, stated that Japan's inflation data supports the Bank of Japan's decision to raise interest rates in September. He pointed out that the Bank of Japan took a more hawkish stance on inflation at its July meeting, and the market currently expects the bank to accelerate its interest rate hikes, with a 20-basis-point increase expected in September. He added that if this fails to meet market expectations, it could lead to a further weakening of the Japanese yen.