MUFG Warns Japan Edges Toward Actual Yen Intervention Near USD/JPY 160

USD/JPY trades just below 160.00 as MUFG warns Japan nears direct FX intervention amid persistent yen weakness, Finance Minister Katayama's G7 talks, and Middle East oil risks. Hike odds for BoJ's April 27-28 meeting plunged to 7bps from 70% peak on Tankan strength and IMF nods, after Ueda's oil shock caution and Himino's stagflation dismissal. Citi flagged intervention above 160 if BoJ holds steady, spiking volatility with UOB eyeing 158.70-160.50 range and BNY noting hedge overhang muting action. Societe Generale sees lingering threats at 160 as BoJ delays hikes to June.