Yen climbs to two-week peak amid renewed intervention speculation

The Japanese yen strengthened past 155.5 per dollar, reaching a two-week high as markets revived expectations of intervention and adjusted to the Bank of Japans policy shift. The move echoed the BOJs notable 2022 intervention, keeping traders alert. A weakening US dollar, driven by rising odds of a 25bps Fed cut next week, added further support. Even with Japans manufacturing PMI slightly revised down to 48.7, the yens momentum stayed firm on policy signals and intervention speculation.

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