Dollar rises to 160 yen, first time since September

The return to this level matters less as a milestone than as a signal that yen weakness remains unaddressed, with the currency pair again testing a zone that has previously drawn official attention. The read-across is broadest for Japanese importers and dollar-earning exporters, where margins and hedging costs shift with each leg higher. Whether the move holds above this threshold, or provokes a policy response, is the open question worth watching.