Mumbai, June 22 -- The Japanese yen weakened to around 161.6 per dollar on Monday, hovering near its lowest level since 1986 and renewing speculation of possible intervention by Japanese authorities. Finance Minister Satsuki Katayama reiterated that officials stand ready to respond to excessive currency volatility if needed. The yen remained under pressure despite the Bank of Japan's recent rate hike to 1%, as investors continued to favor carry trades amid a wide interest-rate gap with the United States. Meanwhile, the dollar index held near 100.7, close to its strongest level since May 2025, adding further pressure on the Japanese currency ahead of key US inflation data.
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