The yen fell to a two-week low against the dollar on Thursday, pressured by speculation that the Bank of Japan could expand its monetary stimulus as soon as next month.
The Japanese currency has surged more than 9 percent against the dollar in 2016 despite a series of monetary easing measures in Japan, which is in a deflationary spiral. That has fuelled a slew of intervention talk from Japanese officials, resulting in a 1.7 percent drop in the value of the yen so far this week.
Talk of more action increased after prominent Japanese academic Takatoshi Ito said on Thursday that Japan's central bank may expand monetary stimulus either in June or July. Ito has close ties to BOJ Governor Haruhiko Kuroda.