Yen hits 40-year low as clock ticks on intervention

The Japanese yen weakened to 162.27 per dollar, a 40-year low, and is set for a nearly 2% drop in the second quarter, its fourth straight quarter of decline. Analysts expect Japan's Ministry of Finance to intervene but note USD/JPY could rise toward 164 by early 2027, with the US jobs report and Fed rate hike expectations in focus.