Japan just stepped up its currency warnings — and the dollar could feel it

Japan is stepping up currency warnings as the yen nears key levels against the dollar.

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• Japan's yen is sliding as the oil market hits the currency, prompting government intervention talks.
• The yen is nearing 160 per dollar, a key level that could prompt Japanese financial intervention.
• The yen-funded carry trade risks triggering volatility, impacting global capital flows and currency trends.

Japan is turning...