Yen Weakens to 161.84, Intervention Awaited
The yen remains under pressure against the dollar, trading near 161.84, a 40-year low, as markets await potential intervention from Japanese authorities.
USDJPY
USD/JPY is hovering near 161.84 on Tuesday, with the yen close to its weakest level in four decades. The Japanese currency continues to face selling pressure as speculative positions against the yen persist, while official intervention from Tokyo has yet to materialize.
Market participants are closely watching for any step by Japanese authorities to support the currency, but no visible action has been taken so far. The pair's proximity to 162.00 is seen as a key psychological level that could prompt a response if breached.
Source: FXStreet Forex News