USD/JPY Tops 159 for First Time Since September 2

The yen's slide past 159 per dollar returns the pair to territory last seen in early September, a level that previously drew official attention in Tokyo. For carry-oriented and dollar-funded positions, the move matters less as a headline than as a signal that rate differentials still dominate. The open question is whether this is a one-day extension or the start of a sustained leg, and whether verbal pushback from Japanese authorities follows the same pattern as before.