The Japanese yen remained under pressure near the 159-per-dollar mark on Wednesday, hovering close to one-month lows as Bank of Japan Governor Kazuo Ueda refrained from signaling any immediate rate hike despite warning about rising inflation risks linked to higher oil prices. Market sentiment stayed cautious amid ongoing Middle East tensions and uncertainty surrounding a potential US-Iran agreement. Although the yen saw a slight recovery to 159.28 per dollar, traders continued to closely watch the 160 level, which is widely viewed as a potential trigger point for Japanese currency intervention.

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