SINGAPORE/LONDON—The yen was under pressure against most other major currencies on Wednesday, even as Japanese authorities said they could intervene to prop it up, while the Aussie dollar dropped after data showed inflation eased in May.
Market expectations that the Bank of Japan (BOJ) will keep interest rates ultra-low, while other central banks tighten monetary policy to curb inflation, has been weighing on the Japanese currency, driving speculation about whether and when the central bank might step in to stem its declines.
