Japanese authorities intervene to lift yen from 160 level
The yen rose 3% after Japanese officials intervened to support the currency. Authorities acted after the yen hit its weakest level against the dollar since 2024.
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Japan authorities intervened to buy the yen on Thursday, driving a 3% surge against the United States dollar. The move follows the USD/JPY pair breaching 160.72, its weakest level since July 2024. Investors face heightened volatility as Tokyo defends the 160 level to counter inflation risks from rising Brent Crude Oil prices.
