Yen Stalls Near Critical Level as BOJ Rate Hike Looms

The Japanese yen remains steady around 159.36 per dollar despite the government's apparent support for an interest-rate hike by the Bank of Japan.

This move is crucial, as a rate above 160 could trigger government intervention to prop up the currency.

Market participants are anticipating a near-term raise in interest rates, with some expecting it in September or October.

However, ING strategist Francesco Pesole believes the yen will move back to at least 160 due to expectations of easier US monetary policy.