Reuters
The yen hit fresh 34-year low versus the dollar and a 16-year low against the euro on Thursday as investors expect a Bank of Japan policy meeting that ends on Friday not be hawkish enough to support the Japanese currency. "If they (Japanese authorities) don’t step in, the breach of the 155 level can attract speculative flows as markets expect intervention," said Athanasios Vamvakidis, global head of G10 forex strategy at BofA. "If they buy yen, pressures can still arise because many investors are waiting for intervention to sell the Japanese currency," he added, arguing that the yen could reach 160 even if there is intervention.