Yen hangs near 160 amid BOJ rate-hike bets, dollar wobbles
SINGAPORE: The yen steadied near the 160-per-dollar level on Tuesday after US Treasury Secretary Scott Bessent ramped up pressure on the Bank of Japan to hike rates later this month, while currency markets kept a wary watch on renewed attacks in the Middle East. US President Donald Trump threatened further strikes against Iran after the first exchange of direct attacks in a month as the six-month-long conflict shows no signs of ending. The fresh attacks sent Brent crude futures above $91 a barrel and Treasury yields higher. The yen last bought 159.81 per dollar, having weakened past the 160 level in the two previous sessions. The yen firmed after Bessent said he believed Japan’s government and central bank would take action that leads to a stronger yen. “I have information that the market doesn’t have, and it’s my belief that the Japanese government and the BOJ will do the things that will lead to a stronger yen,” Bessent told CNBC in an interview during a Group of 20 finance leaders’ gathering. A rare joint intervention from the US and Japan at the end of July provided short-lived relief for the fragile yen, with the currency having since surrendered most of the gains from
