Alex Cohen, foreign exchange strategist at Bank of America: As the yen hits the psychologically significant 160 mark, intervention expectations will inevitably heat up. However, given that the current trend is essentially mainly driven by the US dollar and US interest rates, the authorities may be more patient.

Alex Cohen, foreign exchange strategist at Bank of America: As the yen hits the psychologically significant 160 mark, intervention expectations will inevitably heat up. However, given that the current trend is essentially mainly driven by the US dollar and US interest rates, the authorities may be more patient.