Yen slides for third day as markets doubt BOJ's rate-hike speed

The Japanese yen continued its decline on Tuesday, reaching roughly 157.70 per dollar, its third straight loss despite the Bank of Japan’s latest rate hike. Traders point to opposition from two BOJ policymakers as a signal that future hikes could be more cautious. Naomi Fink of Amova Asset Management said the central bank’s next move depends on unfolding events, while Hassan Fawaz of GivTrade warned that intervention would likely be a warning rather than a solution.

The yen is also pressured by rising rates at the Federal Reserve and other global banks, with market models assigning a 30% probability to a further BOJ increase to 1.5% in October. Meanwhile, the euro and sterling edged lower, and Brent crude futures slipped from recent highs, adding to the broader currency market dynamics.