BlackRock's Rieder Says Yen Rebound Hinges on BOJ Hawkishness

The yen is the money used in Japan, and the dollar is the money used in the United States.

Lately, one dollar can buy almost 160 yen, which is one of the weakest the yen has ever been in forty years.

A man named Rick Rieder, who works for a big investment company called BlackRock, says the government alone cannot fix this problem.

He says Japan's central bank, called the Bank of Japan, needs to show it will raise interest rates to make the yen stronger.

Interest rates are like the price of borrowing money, and higher rates can make a currency more valuable.

Japan's rate is only 1 percent, while America's rates are much higher.

The government of Japan's leader, Sanae Takaichi, also wants a rate increase soon, maybe in September or October.

Mr. Rieder thinks the rate might go up in September, but it could be delayed until December.

Making the yen strong again is a tricky job that needs more than quick fixes.