FX Markets On Alert As Yen Breaches Intervention Level

FX traders are once again on yen intervention watch. The Japanese currency on Wednesday weakened through levels where officials stepped in nearly a year ago, raising the specter of another market foray by the finance ministry. Last September, a relentlessly strong dollar, a determined Fed and a recalcitrant Haruhiko Kuroda conspired to put enormous pressure on the yen, eventually compelling the government to intervene on the currency’s behalf for the first time since 1998. On Wednesday aft