Japanese yen hits 160 per dollar, prompting intervention warnings

The Japanese yen weakened to the 160 per dollar level, the first breach of that threshold since late April. Finance Minister Satsuki Katayama warned that authorities would "respond appropriately at any time" as the currency approached the historically significant 160‑yen line.

Bank of Japan Governor Kazuo Ueda is set to deliver a speech later in the day, with market observers expecting him to reaffirm a positive stance toward a potential June rate hike, while also noting uncertainty from the ongoing Middle‑East conflict. The yen's slide follows an unprecedented 11.7 trillion‑yen (about $73 billion) intervention effort since April, the largest monthly round on record.

The broader forex market saw the U.S. dollar slip from a two‑month peak, while the euro and pound made modest gains. Analysts note that a further decline toward 162 yen could raise the odds of additional intervention by Tokyo.