Yen Continues Climb Amid Intervention Fears

The Japanese yen has risen for three consecutive sessions against the euro and dollar, prompting traders to remain vigilant for potential intervention by Tokyo or Washington. On Monday, the yen surged to its strongest level in about three months, reaching a high of 155.20 per dollar before paring some gains. It was last up 0.39% at 156.76.

Japanese authorities have been actively supporting their currency, and data from the Bank of Japan suggests that Tokyo may have purchased as much as $58.97 billion worth of yen on Thursday.

Analysts are warning that even if the yen strengthens further in the near term, longer-term downward pressures remain in place due to Japan's expansionary fiscal policy and the BOJ's gradual approach to monetary policy tightening.