Yen Teeters at Key Level Amid Fears of Intervention

The Japanese yen has been trading near the critical level of 160 per dollar as investors wait to see if officials will intervene in the foreign-exchange market.

On Wednesday, the yen was priced at 159.45 per dollar at 1:31 p.m. in New York, a 0.1% decline from earlier.

This comes after a more than 1% depreciation of the yen in August, which has reversed some of the efforts made by the US and Japan to strengthen the currency at the start of the month.