The yen witnessed a noticeable decline after the fluctuations that followed the Bank of Japan's decision to keep the key interest rate unchanged.
The currency fell by 0.3% to 156.04 against the dollar, after oscillating between its highest and lowest levels during the day.
It is now at its weakest level in 34 years, raising speculation that the authorities may intervene in the market very soon and it may happen today.
Investors are on high alert, anticipating any rapid rise in the currency. They are concerned that Japan may not openly announce any intervention in the yen price, and in some previous cases the currency has seen a significant recovery due to trading algorithms.
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