Yen Tumbles Below 160 Against Dollar, Traders Watch for Intervention

The Japanese yen has fallen to a new low against the US dollar, breaching the 160 mark for the first time. This sudden drop in value has left traders on edge, wondering if authorities will intervene to slow the currency's decline.

Strategists are warning that the risk of further weakness is high, with potential triggers for intervention looming as close as 161, followed by the 162-163 zone.

The yen's recent surge in value was largely due to a record bout of intervention last month. However, more than half of these gains have been unwound since then.