Japanese Yen Trades Back to Intervention Levels Despite Expected BoJ Hike

The Japanese Yen (JPY) remains under significant selling pressure, with the currency trading back at levels that previously prompted intervention from Japanese authorities. The move comes despite market expectations that the Bank of Japan (BoJ) will raise interest rates at its upcoming meeting.

Analysts note that the yen's weakness persists even as the BoJ signals a policy shift, highlighting the depth of the bearish sentiment. The USD/JPY pair has crossed historical intervention thresholds, raising the possibility of official action to support the currency.