Yen stays weak after rate hike
The Bank of Japan raised its policy rate by 25 basis points to 1.00%.
The move failed to strengthen the yen, keeping pressure on Japanese authorities to intervene.
Leveraged funds have increased short yen positions significantly over the past month, adding to concerns about speculative selling pressure.
The US-Iran deal to reopen the Strait of Hormuz should ease some fundamental selling pressure on the yen by lowering energy prices