Yen Weakens on US Data, Raising Japan FX Intervention Risk
- Japan’s finance minister says authorities watching currency
- Investors say 152-per-dollar level increases intervention risk
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The yen is weakening toward 152 per dollar, a key level that traders see elevating risk that Japanese officials intervene in the market, after strong US factory data boosted the dollar.
The Japanese currency slipped 0.2% against the dollar on Monday after data showed US factory activity unexpectedly expanding, reinforcing bets that the Federal Reserve will take its time in lowering interest rates. The move puts the yen, which last week touched its weakest level in 34 years, at about 151.65 per dollar.