The yen pared declines against other currencies on 18 September 2026 after the Bank of Japan reportedly inquired with market participants about exchange-rate levels, a typical precursor to official intervention. Traders had been disappointed by a lack of clear guidance on further rate hikes.
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The yen pared declines seen after the Bank of Japan disappointed traders who wanted clearer guidance on the central bank’s plans to further raise interest rates, with the Nikkei reporting that officials conducted a rate check in the currency market.
The Bank of Japan reportedly inquired with market participants about exchange-rate levels, a step often seen as a precursor to official intervention.