Yen Tumbles Past 160 Amid Inflation Focus

The Japanese yen has weakened to below 160 per US dollar, marking a significant decline in its value. This slide has erased more than half of the gains made after intervention efforts earlier.

The yen's fall came as Federal Reserve Chairman Kevin Warsh emphasized the need to hit the central bank's inflation target, boosting the greenback and pushing the yen lower.

With the yen now at 160.16 per dollar, traders are closely watching for signs of potential intervention by Japanese authorities to support the currency.