Japan Warns of Intervention as Yen Nears 160
Japan's top currency diplomat warned markets against forgetting summer intervention risks as the yen edged toward the key 160 level. Officials remain concerned over surging import costs driven by a weak currency.
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Japan warned market participants against forgetting currency intervention risks as the USD/JPY approached the 160 threshold during Thursday morning trade. The exchange rate hovered near levels that previously triggered joint defense measures by authorities in Tokyo and the United States. Policymakers face mounting import cost pressures as a weaker currency drives domestic inflation higher.
