The Japanese Yen (JPY) surged by 1.4% against the US Dollar (USD) on September 7, reaching 154.06 JPY, breaking through the key 155 threshold and marking its highest level since February. Market speculation is widespread that Japan previously funded its record 15.4 trillion JPY (approximately $98.6 billion) currency intervention in August by selling foreign securities, including US Treasury bonds. Concurrently, Japan's foreign exchange reserves declined by $94.6 billion during the same period, falling below $1 trillion. Furthermore, increasing expectations of a Bank of Japan (BOJ) interest rate hike and triggered stop-loss orders also contributed to the Yen's appreciation.