Forex
Yen Surges as BoJ Keeps Hawkish Bias Amid Possible Intervention Fears
The Japanese Yen (JPY) saw a brief drop to 158.00 against the US Dollar (USD), sparking speculation of possible intervention, before rebounding near 161.00 and falling again.
The Bank of Japan (BoJ) maintained its policy rate at 1.00%, but with a hawkish bias, stressing it will continue to raise interest rates.
The BoJ's updated Outlook Report points to a faster normalization path towards the middle of its estimated 1.10%-2.50% neutral range.