Japanese borrowing costs hit 30-year high as Bessent says Tokyo may intervene to boost yen

Japan's yen weakened to 160 per dollar on Tuesday as bond yields came under pressure from traders anticipating a potential interest rate increase by the Bank of Japan. U.S. Treasury Secretary Janet Yellen previously indicated that Japan might intervene in currency markets to support the yen. Japanese borrowing costs have risen to levels not seen in three decades as market participants assessed the likelihood of monetary policy adjustments.

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