Japanese Yen near 40-year low despite BOJ interest rate hike

The Japanese yen remained near multi-decade lows at about 161.12 per US dollar despite the Bank of Japan's interest rate hike to a 31-year high, raising concerns of further intervention by Japan's Ministry of Finance. The US dollar strengthened, with the dollar index near 100.82, after Federal Reserve Chair Kevin Warsh adopted a hawkish tone, with money markets now pricing a 38.5 percent probability of a 25-basis-point Fed rate hike in July, up from 8 percent a week ago. Bitcoin fell 0.2 percent to 62,897 dollars and Ether declined 0.3 percent to 1,703 dollars as tighter global financial conditions weighed on risk assets.