Yen Near Year’s Low as Strategists See Higher Intervention Bar

The yen is vulnerable to further declines as it hovers near its weakest level against the dollar this year, with strategists seeing a high threshold for intervention from Japan to defend the currency.

It briefly slid to 159.24 per dollar on Thursday, approaching the 159.45 level that prompted a so-called rate check in January by the US Federal Reserve. It was last trading at around 158.80 to the dollar.