Yen Holds Steady Amid Rate Hike Bets, Dollar Volatility

The yen has steadied near its current level of 160 per dollar after US Treasury Secretary Scott Bessent increased pressure on the Bank of Japan to raise interest rates later this month.

This development comes as the Middle East remains a volatile region due to renewed attacks, which have pushed Brent crude futures above $91 a barrel and sent treasury yields higher.

The situation has been ongoing for six months, with no signs of resolution, causing concern in currency markets.