The yen weakened beyond 155 per dollar for the first time since July, increasing the chance of Japan intervening in the currency market. The yen slid 0.4% to 155.15 against the dollar following Donald Trump’s reelection, pressured by surging U.S. Treasury yields. This drop brings the yen close to levels that previously triggered intervention.
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Japan’s top forex official has warned about abrupt currency moves, with economists forecasting intervention between 150 and 160 per dollar. Persistent yen weakness may push the Bank of Japan (BOJ) to raise rates sooner than expected, with a 50% chance of a December hike, according to traders.
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