According to CoinMeta, Goldman Sachs stated that weak U.S. economic data or the Bank of Japan’s (BOJ) failure to raise interest rates as expected could trigger new intervention in the yen. Goldman Sachs pointed out that Japan’s ability to intervene is not the limiting factor; the key lies in timing and triggering conditions. The firm identified two catalysts as of particular concern: firstly, weak U.S. data that weakens the Fed’s rationale for further interest rate hikes, thereby naturally reducing pressure on the yen; secondly, if the Bank of Japan fails to raise interest rates by 25 basis points in September as expected by the market, it could reopen the possibility of direct intervention. Goldman Sachs also mentioned that Japan has sufficient financial capacity to intervene in the foreign exchange market again, and the real determinants lie in the interest rate differential between Japan and the U.S., as well as specific data or policy surprises that may affect this differential.