USD/JPY Holds Above 160 as Yen Weakens Despite Intervention Warnings
The Japanese yen softened against the US dollar on Tuesday, with USD/JPY trading near 160.20 during Asian hours, as escalating Middle East tensions supported the greenback despite fresh intervention threats from Tokyo.
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USD/JPY traded in positive territory around 160.20 during the Asian session on Tuesday, extending gains as safe-haven demand for the US dollar rose amid heightened geopolitical risks in the Middle East.
The Japanese yen remained under pressure even after Japanese authorities issued fresh warnings about possible currency intervention. The market continues to test the resolve of policymakers as the pair hovers near levels that previously prompted official action.
Source: FXStreet Forex News