The Japanese yen rose toward 158 per dollar on Friday, building on gains from earlier in the week as investors looked ahead to the Bank of Japan’s upcoming policy meeting for any signals on its rate-hike trajectory. The central bank is widely expected to maintain current policy next week, with markets pricing in the next rate increase around June. BOJ Governor Kazuo Ueda reiterated that the bank stands ready to raise rates if economic and price developments align with projections. The yen also received support this week from concerns over potential official intervention as it approached the key 160 level, with Japanese authorities cautioning against rapid, one-sided currency movements. Meanwhile, speculation that Prime Minister Sanae Takaichi may call a snap election next month to advance more aggressive fiscal spending continued to weigh on the yen. Takaichi is reportedly scheduled to provide further details on the dissolution of the lower house to ruling bloc officials on Jan. 19.