Yen Edges Away From Weakest Since 2024 Amid Intervention Risk

The yen edged away from its weakest level since July 2024 amid warnings that suggest Japan is prepared for potential intervention to support the currency.

Japan’s currency strengthened back under the closely watched 160 level versus the dollar after the nation’s top currency official said bold action may be necessary if the situation continues. It then extended the gain after Bank of Japan Governor Kazuo Ueda said currency movements are a factor with a big impact on the economy and on prices.