The decision of the Bank of Japan is approaching, and traders are wary of authorities intervening in the foreign exchange market during the "Silver Week" holiday

On September 3rd, the Bank of Japan decided to hold an upcoming meeting, and yen traders were wary of Japanese authorities intervening in the foreign exchange market. Market participants believe that authorities may take action during the period of low liquidity during the 'Silver Week' holiday. The Japanese yen continued its Wednesday rally on Thursday, and the market expects the Bank of Japan to raise interest rates at its meeting on September 18th. Samara Hammoud, a strategist at the Commonwealth Bank of Australia, said, "The 'Silver Week' has increased uncertainty about the trend of the Japanese yen, and market liquidity has decreased during the holiday period. The US dollar/Japanese yen exchange rate may once again test the high point that triggers intervention, and the risk of intervention before and after the Bank of Japan meeting has increased