Forex
Asian Currencies Mixed as Yen Hovers Near 160 Amid Escalating US-Iran Tensions
The Asian currency markets were mixed on Monday as the Japanese yen hovered near the closely watched 160-per-dollar level. The USD/JPY pair was around 159.83, keeping the local unit close to the 160 level it weakened through on Friday.
Investors widely view a break further above 160 yen per dollar as increasing the risk of Japanese authorities intervening to support the currency.
The U.S. dollar was broadly firm after Federal Reserve Chair Kevin Warsh's hawkish comments pushed markets to price in a higher chance of a September rate hike, with an implied probability rising to about 57%.