The yen is expected to rise 2.3% against the US dollar this week, marking the largest weekly gain since the end of April and the beginning of May. This comes as traders unwind their long-held bets against the yen ahead of the release of key US inflation data. Meanwhile, the global stock market slump has also prompted investors to turn to safe-haven assets such as the yen. This month, the yen has dominated the forex market, with the yen against the US dollar soaring to a nearly three-month high of 151.945 on Thursday, after falling to a 38-year low of 161.96 earlier this month. James Athey, fixed income investment portfolio manager at Marlborough Investment Management, said, "I think the speed of the yen's rise means we may soon see some consolidation." However, in the end, as the shine of risky assets fades, and with data and the Fed indicating a rate cut, I still believe the yen will appreciate further.