Yen Soars on BOJ Hawkish Comments, Eyes on US Payrolls Report

The yen surged to its strongest level in nearly a month, reaching 157.545 per dollar in Asia on Thursday.

The currency's rally was broad-based, with the euro falling 0.57% to 182.90 yen and sterling dropping 0.55% to 212.81 yen.

Kazumasa Ishii, a strategist at UBS SuMi Trust Wealth Management, said there is little incentive for the Japanese government to intervene in the currency market.

The renewed strength of the yen follows hawkish comments from Bank of Japan (BOJ) board member Hajime Takata, who suggested that the central bank should conduct interest rate hikes more quickly to combat inflationary pressures.