New High in Yen Value Sparks Debate about Intervention in Japanese Currency Market

The dollar is reaching a 34-year high against the yen

Japanese authorities are facing pressure to intervene in the currency market after the value of the dollar surpassed 160 yen for the first time since 1990. In morning trading, the dollar was worth 160.17 yen, a development that has sparked speculation about potential intervention. Meanwhile, in the United States, inflation was higher than expected at the end of last week, dispelling hopes of an interest rate cut this year.

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