**Yen Climbs to Highest Level Since February, Surpassing Intervention Rally**
The Japanese yen strengthened against the U.S. dollar, reaching a peak of ¥154.06 per dollar—its strongest level since February. The currency gained as much as 1.4% during the trading session, a move that exceeded the gains seen during the most recent intervention rally.
Analysts say the rally reflects increasing market expectations that the Bank of Japan (BOJ) will raise interest rates. The shift in sentiment has prompted a sharp reversal in the yen’s recent trend of depreciation.
The yen’s rise follows a period of intervention by the Japanese government, which had previously sought to curb the currency’s decline. The latest gains suggest that market participants are now more optimistic about the BOJ’s policy direction.
*Source: The Japan Times, “Yen rises to highest since February, topping intervention rally” (September 7, 2026).*
Article source: japantimes.co.jp | Image credit: Bloomberg.com
