Yen Slips Past 160 Per Dollar, Renewing Speculation of Official Intervention

The Japanese yen has weakened beyond 160 per dollar, reaching levels that previously triggered coordinated intervention by Japan and the United States. The currency strengthened around 0.3% to 159.57 per dollar after sliding past 160 on Friday, but has since surrendered much of the gains made following July's record intervention. Markets are closely watching for potential further action from Tokyo and Washington to support the currency.