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The Japanese yen is facing pressure as it nears the 160 level against the U.S. dollar, prompting officials like Kanda and Suzuki to express readiness for intervention. The Bank of Japan's minutes suggest a potential July hike. Markets are closely watching for any signs of intervention amid receding US rate cut expectations.
Despite fx intervention warnings from both Masato Kanda and Shunichi Suzuki, the #Yen is trading near a level often deemed a trigger for such intervention. It is also interesting that this is happening at a time when the Bank of #Japan's minutes show some greater openness to anโฆ https://t.co/Yo4wVAs5fu
The yen is under pressure, even as Japanโs top currency official warned that authorities stand ready to intervene https://t.co/kLio1laj4h
The Bank of Japan remains under pressure with the Japanese Yen near to the previous intervention zone at 159.69 #USDJPY