The Japanese yen weakened to 157.47 per U.S. dollar on Tuesday, as investors asked whether Japan's central bank can keep pace with the rate hikes of other major central banks.

The Japanese yen weakened to 157.47 per U.S. dollar on Tuesday, as investors asked whether Japan's central bank can keep pace with the rate hikes of other major central banks.

Despite raising the interest rate to 1.25% last week, Japan maintains a roughly 2.75 percentage point interest rate gap versus the U.S., while keeping pressure on the yen.

Markets remained stunned: possible intervention of the Japanese currency following reports that authorities examined exchange rates. Meanwhile, Bitcoin fell about 2% after reaching an eight‑month high above $87,000.