Forex
Yen Stabilizes Near 160 Amid BOJ Rate-Hike Bets
The yen steadied near the 160-per-dollar level on Tuesday after U.S. Treasury Secretary Scott Bessent ramped up pressure on the Bank of Japan to hike rates later this month.
Bessent's comments came as markets kept a wary watch on renewed attacks in the Middle East, with Brent crude futures above $91 a barrel and Treasury yields higher.
The rare joint intervention from the U.S. and Japan at the end of July provided short-lived relief for the fragile yen, which has since surrendered most of its gains from the joint action.