Mitsubishi UFJ Bank's Derek Halpenny said in a report that during the quieter Christmas period, the risk of intervention to support the yen is increasing. The yen fell to a nearly four-week low against the US dollar, although the Bank of Japan raised interest rates on Friday and hinted at further rate hikes. Halpenny said that the Bank of Japan failed to provide more clear guidance on what it believed would neither stimulate nor slow growth, which disappointed some market participants. “Another factor that may weigh on the yen is that the market sees no strong sense of urgency to raise interest rates further. “According to the London Stock Exchange Group, the US dollar rose 1% to a high of 157.12 yen.

Mitsubishi UFJ Bank's Derek Halpenny said in a report that during the quieter Christmas period, the risk of intervention to support the yen is increasing. The yen fell to a nearly four-week low against the US dollar, although the Bank of Japan raised interest rates on Friday and hinted at further rate hikes. Halpenny said that the Bank of Japan failed to provide more clear guidance on what it believed would neither stimulate nor slow growth, which disappointed some market participants. “Another factor that may weigh on the yen is that the market sees no strong sense of urgency to raise interest rates further. “According to the London Stock Exchange Group, the US dollar rose 1% to a high of 157.12 yen.