Japanese Finance Minister Satsuki Katayama indicated decisive market action is imminent, suggesting possible yen support near 160 per dollar.
Yen hit highest since July 2024, trading at 159.28 per dollar while the U.S. dollar index slipped 0.3% to 98.69.
Brent crude futures briefly surged to a four‑year high amid reports of U.S. military options against Iran, then reversed to negative gains.
BofA Securities warned that any temporary yen strength from intervention could create opportunities for yen‑selling hedges.