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Yen steadies amid intervention concerns
The Japanese Yen experienced cautious stability close to the 156.85 yen per dollar level, after declining by 2% last week following the Bank of Japan's decision to raise interest rates to 1.25%, the highest level in 31 years. However, the lack of clear signals regarding the pace of tightening raised concerns about possible government intervention to support the currency amid weak market liquidity. Meanwhile, the US dollar continues its recovery, influenced by the Federal Reserve's interest rate hike and expectations of another increase in October, which adds pressure on the yen and keeps it tested amid ongoing inflation and global monetary tightening.
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