Business & Finance
Yen Falls to Key 160 Per Dollar Level, Raising Intervention Risk
Key Points
Currencies Yen Falls to Key 160 Per Dollar Level, Raising Intervention Risk The yen dropped below 160 per dollar, a key threshold that’s raising the specter that policymakers in Tokyo will swoop in again to defend the currency. As rising US bond yields pushed the dollar higher, the yen slipped 0.1% to 160, hitting the level for the first time since September.
Currencies
Yen Falls to Key 160 Per Dollar Level, Raising Intervention Risk
The yen dropped below 160 per dollar, a key threshold that’s raising the specter that policymakers in Tokyo will swoop in again to defend the currency.
As rising US bond yields pushed the dollar higher, the yen slipped 0.1% to 160, hitting the level for the first time since September. It marked the third straight daily decline as traders brace for the Federal Reserve to step up its interest rate hikes, giving investors an incentive to shift cash to the US as yields surge further above those in Japan.