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US retail gasoline prices reached a four-year high, while the yen strengthened amid intervention risks and potential Bank of Japan rate hike.

The Bank of Japan (BOJ) is reportedly considering a 25-basis-point interest rate hike this month due to concerns over rising inflation, while leaving open the option for faster future hikes.

Yen traders are on heightened alert for possible intervention by Japanese authorities around the Bank of Japan’s upcoming policy meeting, with a three‑day holiday after the decision creating conditions for action in thinner markets.

The yen appreciated following remarks by Bank of Japan (BOJ) Board Member Hajime Takata, a hawkish policymaker, who suggested the possibility of an outsized interest-rate hike and consecutive rate increases.

ANZ FX Research Head Mahjabeen Zaman stated that the Bank of Japan (BOJ) could begin rate hikes in September, which may influence yen strength and broader currency dynamics.

Japan’s benchmark bond yields reached 3% for the first time since 1996, signaling a significant shift in monetary policy expectations.

US Treasury Secretary Scott Bessent stated that he expects Japan to strengthen the yen through interest rate hikes, specifically signaling a potential Bank of Japan (BOJ) rate hike in September.

Accelerating price growth raises expectations on BoJ to increase rates at September meeting

Japan’s bonds fell on fiscal concerns and growing speculation that the Bank of Japan may raise interest rates in the …

The yen strengthened amid growing speculation the Bank of Japan may raise interest rates in the coming months.

Supporting the yen will take more than government intervention and will need hawkish signals from the Bank of Japan, said …

The yen remains within striking distance of a crucial level against the dollar, even after Prime Minister Sanae Takaichi’s government …