The Japanese yen traded around 157.5 per dollar on Wednesday, pausing its recent rally even as US Treasury Secretary Scott Bessent reaffirmed Washington’s ongoing support for Japan following a historic joint currency intervention. The yen had surged as much as 5% over three sessions after Tokyo and Washington carried out coordinated yen-buying on a scale not seen in decades, with both governments signaling they remain prepared to intervene again if necessary. Bank of Japan data showed Tokyo spent about ?5.33 trillion during Friday’s operations, after reportedly conducting a record ?8.45 trillion intervention the day before. The yen had weakened to four-decade lows last month amid higher energy costs, mounting fiscal concerns, and persistently wide interest rate differentials. Meanwhile, the latest data showed Japan’s real wages rose for a sixth consecutive month in June, reinforcing the case for additional BOJ interest rate hikes.