The yen slumped to levels not seen since 1986 on Tuesday, stoking worries that direct intervention from Tokyo was around the corner, while the dollar backed away from 13-month highs ahead of jobs data that could influence the U.S. rate outlook.
The yen weakened to 162.41 per dollar for the first time in 40 years on Tuesday and was last at 162.23. Japanese Finance Minister Satsuki Katayama reiterated the authorities stood ready to respond appropriately at any time, refraining from stronger rhetoric.
