SINGAPORE >> The dollar was riding high on Thursday after Fed minutes made a December U.S. rate cut seem less likely, and its strong gains against the yen prompted traders to ask whether Japanese authorities may step in to stop their currency sliding further.

The dollar rose as high as 157.78 yen towards the end of the Asia session, its strongest since January. The yen’s latest decline began after Finance Minister Satsuki Katayama said there had been no specific discussion about foreign exchange at a meeting with Bank of Japan Governor Kazuo Ueda.

The yen managed to find some stability as European trading got underway, with the dollar up 0.1% at 157.36 yen. But Japan’s currency has still depreciated by around 6% since Prime Minister Sanae Takaichi was elected leader of the ruling party l

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