【Goldman Sachs: Japan Has Achieved A Virtuous “Wage-Price” Cycle. If The Yen Depreciates To 160 Against The US Dollar, The Interest Rate Hike Will Be Brought Forward To December】The Yen Continued To Strengthen Against The US Dollar This Week. As Of November 28 (Wednesday), The Exchange Rate Of The Yen Against The US Dollar Has Accumulated Over 2.1%, Outperforming Other G10 Currencies. The Last Time The Yen Reached Such An Increase Was At The End Of July This Year. According To Some Analysts, Traders Expect The Gap Between US And Japanese Treasury Bond Yields To Narrow Next Month, Boosting The Yen Exchange Rate. Some Strategists Said That There Is Room For The Yen To Rise Further, Because The Overnight Swap Index Anticipates That Both Japan Will Raise Interest Rates And The US Dollar Will Cut Interest Rates By More Than 60%. Recently, In Its 2025 Japan Economic Outlook Report, Goldman Sachs Predicted Changes In The Yen Exchange Rate And The Path Of The Bank Of Japan'S Interest Rate Hike. Goldman Sachs Anticipates That If The Yen Depreciates To Around 160 Yen Against The US Dollar, The Next Rate Hike May Be Brought Forward From January 2025 To December 2024. Currently, Japan'S Positive Inflation Performance And An Environment Of Continued Economic Recovery Support The Normalization Of Its Monetary Policy. Goldman Sachs Pointed Out In The Report That Japan Has Crossed The Critical Inflation Threshold — A Healthy “Wage-Price Spiral” Has Emerged, And This Transformation Has Had An Important Impact On Japan And The Global Market