On the currency markets, the value of the dollar fell against a basket of currencies last week for the third consecutive time, with the sharpest decline recorded against the Japanese yen. The dollar index, which measures the value of the U.S. currency against six major world currencies, slipped by 0.15% last week, reaching 106.65 points.

Meanwhile, the euro weakened against the dollar by 0.3%, settling at $1.0458. However, the U.S. currency dropped sharply against the Japanese yen, falling by 2% to 149.25 yen per dollar. The dollar index’s decline for the third consecutive week was largely driven by its steep drop against the yen.

As inflation in Japan rises, the Bank of Japan (BOJ) is expected to further increase key interest rates, narrowing the gap between interest rates set by the U.S. Federal Reserve and the BOJ.