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Asset Managers Build Yen Positions Ahead of Potential BOJ Action

RBC BlueBay Asset Management expanded its long yen positions this week as the currency drifted toward 160 per dollar. The asset manager views current levels as increasingly attractive amid expectations of possible intervention and a potential Bank of Japan rate hike in June. The move reflects heightened vigilance among currency traders following a one-percent weekly decline in the yen. Japanese authorities have demonstrated willingness to intervene during recent holiday periods. Market participants are monitoring central bank accounts and official communications for signals of further action to support the currency.