Published by Jamie JemmesonDomestic politicians are pressuring the Bank of Japan (BOJ) to come to the rescue of the yen, which is currently trading at a 15-year high.Along with the Swiss franc, the yen has emerged from the crisis as a favourite hedge currency among forex traders and this, combined with slow economic growth, is threatening to put the country into another deflationary cycle.Bloomberg reports that the Democratic Party of Japan yesterday called on the BOJ to "speedily take further steps" to counter deflationary risks and the rise of the yen with the introduction of new stimulus measures.Meanwhile, Motohisa Ikeda, vice finance minister for the party, said the central bank needs to do "everything it can" to prevent further currency inflation."They don't really know what to do so they're turning the heat up on the BOJ," said Yoshiki Shinke, senior economist at Dai-Ichi Life Research Institute in Tokyo.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site.