Japan Signals Market Intervention as Yen Tests 160 Level for Third Day

ERBIL, Iraq — Japan signaled potential intervention in currency markets as the yen tested the 160 level against the dollar for the third consecutive day, Finance Minister Satoshi Katayama said. Katayama stated Japan is prepared to take decisive steps in foreign exchange markets when necessary and retains the authority to address excessive volatility. The yen has weakened for four straight weeks, largely erasing gains achieved through a $73 billion intervention earlier this year. Middle East conflicts have driven investors toward safe-haven assets, supporting the dollar's weekly gains. Brent crude oil prices climbed above $90 per barrel amid the regional tensions. Iran's backed Hezbollah rejected a ceasefire in Lebanon, while Israel announced it would not withdraw its forces from the country, deepening the冲突. The euro held at 1.1612 dollars and the pound at 1.34228 dollars. The dollar index traded at 99.434 points, on track for a 0.5 percent weekly gain.