The Japanese yen slid past 155 per dollar on Wednesday after the Bank of Japan kept its policy rate unchanged, disappointing traders who had bet on a more hawkish tone.

The central bank reiterated that it would move gradually on further tightening, citing uncertainty over domestic wage growth and the durability of recent inflation.

The widening rate gap with the US Federal Reserve has kept the yen under pressure for much of the year, prompting periodic verbal intervention from Japanese officials.

Traders said they are watching for signs of direct currency intervention should the yen approach levels last seen in 2024.