Hot US Inflation Drags the Yen Close to 160. Will Japan Step In Again?
AI summary
The dollar rose to 159.94 yen in Tokyo, its strongest level in over two months, after hot US inflation data and rising bets on a Fed rate hike. The yen is now just short of 160, a level markets watch for signs of Japanese intervention. Traders care because a yen intervention or further Fed tightening could shift global risk appetite, which typically spills over into crypto liquidity and volatility.
