Yen tests key 160 threshold as Japan signals readiness to act
Mumbai, Nov. 13 -- The Japanese yen briefly weakened beyond the closely watched 160-per-dollar threshold on Friday, its weakest level since September, before recovering as fears of fresh government intervention prompted caution among traders. Japan's top currency official Atsushi Mimura warned that recent currency movements had been excessively rapid, while Finance Minister Satsuki Katayama reiterated Tokyo's readiness to take appropriate action in coordination with US authorities. Meanwhile, the dollar index held above 103, supported by stronger US inflation data and increasingly hawkish Federal Reserve signals, with markets anticipating further rate increases into next year. Investors now await US producer price data for fresh clues on ...
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