The yen slipped on Monday to its lowest in the year against the dollar, breaching the key 145 level before regaining some ground as traders warily looked for clues on possible intervention, while the dollar rose to a more than one-month peak.
The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 before quickly reversing course in a volatile start to the week. It last fetched 144.92, up 0.03%.
"Lack of verbal intervention so far suggests that the patience level of Japanese authorities may have gone up after the latest tweak to monetary policy and the disinflation trends in the United States," said Charu Chanana, a market strategist at Saxo Markets. Analysts said GDP and CPI data in Japan due this week are likely to be key along with U.S. retail sales data which could continue to push Treasury yields higher.
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