The yen recovered slightly from its weakest level in almost four decades on Wednesday, as traders weighed the possibility of intervention from Tokyo alongside expectations for quicker rate hikes by the Bank of Japan. After lingering around the previous day's 40-year low of 163.24 to the dollar, the yen got a sudden boost after Bloomberg News reported BOJ officials are open to raising rates at a faster pace than the consensus among economists. The yen was last up 0.09% against a slightly weaker dollar, at 163.03. Japan's Finance Minister Satsuki Katayama has said authorities would take decisive action if needed to curb excessive currency weakness, though Tokyo's interventions in April and May have done little to reverse the yen's broader trajectory. Analysts say the currency's weakness is driven by broad-based dollar strength and the BOJ's still-low interest rates, with IG market analyst Fabien Yip noting that intervention buys time, not a trend reversal.