The Japanese yen traded around 161.5 per dollar on Wednesday, remaining close to its weakest level since 1986 as repeated verbal intervention from officials provided little support for the currency. Earlier this week, Finance Minister Satsuki Katayama said she held talks with US Treasury Secretary Scott Bessent, reaffirming a shared commitment to coordinate in foreign exchange markets if necessary. The yen remained under pressure from a stronger dollar and the wide interest rate gap between the US and Japan. Markets have also grown skeptical about Tokyo’s willingness to conduct further currency intervention after a record-sized operation nearly two months ago significantly reduced foreign exchange reserves. Meanwhile, the Summary of Opinions from the Bank of Japan’s June meeting showed that policymakers generally favored continued rate hikes, citing underlying inflation’s progress toward the 2% target and still-accommodative financial conditions.