BOJ Decision Puts Yen Under Renewed Pressure After Tokyo Intervention

The Japanese yen has come under renewed pressure after a previous surge in value. Tokyo intervened in the currency markets on Thursday, conducting yen-buying and dollar-selling operations.

This move came ahead of the Bank of Japan's policy decision on interest rates, which is widely expected to be steady at 1%.

The US Federal Reserve's decision to leave interest rates unchanged has put downward pressure on the dollar, making it a good time for intervention according to Rodrigo Catril, senior FX strategist at National Australia Bank.