The yen weakened sharply against the dollar in New York trading on the 28th, briefly reaching 160.20 and moving above 160 for the first time in roughly a month. The move came after Federal Reserve Chair Kevin Warsh signaled in a Jackson Hole, Wyoming, speech that he was open to further rate increases to combat inflation. Higher U.S. long-term yields and expectations that the Japan-U.S. interest rate differential will remain wide strengthened dollar-buying flows. The yen had recovered to the 150 range after coordinated intervention by Japan and the United States in late July, but roughly half of that intervention-driven appreciation has since been erased. Renewed trading above 160 has revived questions about further Japanese government currency intervention and the Bank of Japan’s response. Persistent yen weakness could raise import-driven inflation and increase pressure on the BOJ to lift its policy rate, making its next monetary policy meeting a key focus for markets.