The drop has taken the yen near levels when Japanese authorities last intervened to prop up its currency, with the nation’s top foreign exchange official warning about the one-sided, sudden moves. The minimum forecast of the yen that may trigger intervention was 150 against the dollar, with the median at 160, according to a survey of 53 economists carried out by Bloomberg last month.
The yen weakened beyond 155 per the US dollar for the first time since July, raising the risk that Japan will enter the currency market to try to slow the depreciation.
The Japanese currency slid as much as 0.4% to 155.15 against the US dollar, extending its losses after Donald Trump was reelected as US president. The surge in Treasury yields is weighing on the yen, with the two-year yield reaching its highest level since July.
