The yen surged and Japanese government bond yields rose sharply as Bank of Japan Governor Kazuo Ueda signaled a quicker path to policy normalization. This development pressured the USD/JPY and yen crosses, while Bitcoin experienced a 5% drop, falling to the mid-$80,000s amid significant long liquidations. The Nikkei 225 index declined by 1.9% as exporters were hit by the stronger yen, while broader Asian markets showed mixed results. In response to these shifts, oil and gold prices increased as investors sought safe-haven assets. Meanwhile, China's manufacturing PMI registered at 49.9, indicating a contraction and highlighting ongoing weak domestic demand despite strong export performance.