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Japan's yen surged past the 158 level against the US dollar on Thursday, sparking speculation of official intervention. The move comes as Prime Minister Sanae Takaichi plans a consumption tax cut, raising fiscal concerns.
The ringgit is expected to rebound sharply from its June lows as Bank Negara Malaysia intensifies efforts to encourage foreign-exchange inflows, with analysts projecting strength to 3.80 per dollar by year-end.
Japan's Finance Minister Satsuki Katayama reiterated the government's willingness to intervene in currency markets to support the yen, which has recovered from 40-year lows. The stance reflects growing economic pressures from prolonged yen weakness.