On July 31, Japan executed yen-buying intervention in the New York session after the yen reached four-decade lows, following a 2.4% dollar drop the prior session and a subsequent 0.45% rebound to 160.175. The Bank of Japan is expected to hold short-term rates at 1% after its June hike, while the Federal Reserve left rates unchanged and analysts forecast a BOJ increase to 1.25% by year-end. Sources are limited to left-center outlets, constraining perspective diversity.