The U.S. dollar briefly hit a two-month high close to the 160 yen line Monday in Tokyo, as stronger-than-expected U.S. economic data reduced expectations that the Federal Reserve will cut interest rates soon.However, market participants refrained from chasing the dollar above the threshold due to caution over a potential yen-buying operation by Japanese authorities. They conducted an apparent intervention on April 29 after the U.S. currency climbed to as high as 160.24 yen.The dollar at one point rose to 159.94 before fetching 159.68-70 yen at 5 p.m., compared with 159.81-91 yen in New York…READ FULL ARTICLE
