Japanese yen sets records, geopolitics at the center of markets, corporate news
• The dollar rose to 159.94 yen in early trading, prompting the usual warnings from Japanese officials against "excessive" volatility, shorthand for intervention worries. The 160.00 level is seen as a red line for the Japanese, given that they intervened in late April when the dollar hit 160.245. The yen's weakness is adding to imported inflation and putting pressure on the Bank of Japan (BoJ) to further unwind its ultra-loose policies. Minutes from the central bank's latest meeting confirmed that there was a lot of discussion about cutting bond purchases and raising rates.
• The yen's sustained...