The Japanese yen surged to its strongest level against the US dollar since the start of the year following comments from Bank of Japan (BOJ) board member Junko Nakagawa. Nakagawa indicated that the BOJ is prepared to raise interest rates if inflation remains on track, aligning with the central bank's existing policy stance. Her remarks, which came in January, have intensified investor focus on the potential for monetary policy adjustments by the normally dovish BOJ.