Yen nears intervention level as dollar gains on Iran war
The yen fell to 159.40 per dollar as markets tested the Bank of Japan. The dollar rose on Iran conflict news while the New Zealand dollar jumped on rate signals.
The USD/JPY remained steady at 159.40 on Wednesday evening, approaching the 160 level that triggered official market intervention last month. It is the weakest level for the currency since April 30. Traders are testing the Japan Ministry of Finance's resolve as geopolitical tensions in the Middle East drive safe-haven flows.
### Markets Challenge Japanese Intervention Thresholds The yen remained steady at 159.40 per dollar during the evening session, nearing the 160 threshold widely viewed as a trigger for official action. Moneycorp head of structuring Moneycorp noted that historical patterns suggest the market will likely test the Bank of Japan again before intervention becomes effective.
