⚠️ALERT: JAPANESE YEN NEARS A 40-YEAR LOW AGAINST THE U.S. DOLLAR USD/JPY hit ¥160.9, erasing all of the yen’s gains from Japan’s late-April intervention. Tokyo reportedly spent a record ¥11.7 trillion ($72.9B) to support the currency, but the move has failed to hold. Japan says it is ready to act “at any time” as the Fed signals another rate hike while Japan’s policy rate remains just 1%.(Coin Bureau)