The Japanese yen strengthened past 156 per dollar as traders stayed alert for a possible holiday-week intervention, with the threat alone helping cap recent weakness. Sentiment turned further supportive after reports indicated the Bank of Japan may consider a rate hike next month amid persistent inflation and pressure from a soft currency. At the same time, the dollar index slipped below 99.5, extending its fourth straight decline as expectations for deeper Federal Reserve rate cuts gained traction. The combination of BOJ hawkish signals and broad dollar softness helped fuel the yens sharp rebound.
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